Lucky Strike Entertainment (NYSE:LUCK) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Lucky Strike Entertainment (NYSE:LUCK) from a strong sell rating to a hold rating in a report published on Monday,Zacks reports.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group set a $10.00 price target on shares of Lucky Strike Entertainment in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lucky Strike Entertainment in a research report on Friday, July 31st. Citigroup initiated coverage on Lucky Strike Entertainment in a report on Monday, June 29th. They set a “market perform” rating on the stock. Truist Financial reduced their target price on Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday. Finally, Roth Capital set a $6.50 target price on Lucky Strike Entertainment in a research report on Friday, August 28th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.17.

Lucky Strike Entertainment Price Performance

Shares of Lucky Strike Entertainment stock opened at $4.37 on Monday. The company’s fifty day simple moving average is $5.54 and its two-hundred day simple moving average is $7.35. Lucky Strike Entertainment has a 12-month low of $3.76 and a 12-month high of $9.59.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings data on Thursday, August 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.15). The business had revenue of $303.95 million for the quarter, compared to analyst estimates of $311.30 million. On average, equities analysts expect that Lucky Strike Entertainment will post -0.02 earnings per share for the current fiscal year.

Lucky Strike Entertainment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Tuesday, September 8th.

Insider Transactions at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, CEO Thomas Shannon purchased 30,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was bought at an average cost of $5.86 per share, with a total value of $175,800.00. Following the transaction, the chief executive officer directly owned 3,144,000 shares in the company, valued at approximately $18,423,840. The trade was a 0.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sandeep Mathrani acquired 9,350 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $6.41 per share, for a total transaction of $59,933.50. Following the purchase, the director directly owned 9,350 shares of the company’s stock, valued at $59,933.50. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 43,537 shares of company stock valued at $261,064. 84.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lucky Strike Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in LUCK. Squarepoint Ops LLC boosted its position in shares of Lucky Strike Entertainment by 69.8% in the 2nd quarter. Squarepoint Ops LLC now owns 22,158 shares of the company’s stock worth $166,000 after purchasing an additional 9,112 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Lucky Strike Entertainment by 52.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 481,189 shares of the company’s stock worth $4,003,000 after buying an additional 166,104 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new position in Lucky Strike Entertainment during the 2nd quarter valued at approximately $1,361,000. Institutional investors own 68.11% of the company’s stock.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corp. is an operator of location-based entertainment venues centered on bowling. The company provides recreational and social experiences through bowling lanes, arcade games, food and beverage offerings, and spaces for parties, corporate events and other group gatherings.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF, serving customers across the United States and Canada. Its locations range from upscale entertainment venues to traditional bowling centers, with offerings designed for families, casual visitors, league bowlers and private-event guests.

Lucky Strike Entertainment was previously known as Bowlero Corp.