Lucky Strike Entertainment (NYSE:LUCK) Shares Down 5.3% – Here’s Why

Lucky Strike Entertainment (NYSE:LUCK)’s stock price fell 5.3% during mid-day trading on Tuesday . The company traded as low as $7.94 and last traded at $7.73. 5,300 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 148,618 shares. The stock had previously closed at $8.16.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LUCK. Craig Hallum downgraded Lucky Strike Entertainment from a “buy” rating to a “hold” rating and set a $6.50 price objective for the company. in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d)” rating on shares of Lucky Strike Entertainment in a research note on Monday, May 4th. JPMorgan Chase & Co. downgraded Lucky Strike Entertainment from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $8.00 to $6.00 in a research note on Thursday, April 23rd. Stifel Nicolaus set a $9.00 price objective on Lucky Strike Entertainment in a research note on Thursday, May 7th. Finally, Jefferies Financial Group set a $12.00 price objective on Lucky Strike Entertainment in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Lucky Strike Entertainment has a consensus rating of “Hold” and an average target price of $8.69.

Lucky Strike Entertainment Stock Performance

The firm has a 50 day moving average price of $8.25 and a two-hundred day moving average price of $8.32. The company has a market cap of $1.20 billion, a P/E ratio of -14.21 and a beta of 0.60.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). The company had revenue of $342.23 million during the quarter, compared to analyst estimates of $353.77 million. On average, sell-side analysts predict that Lucky Strike Entertainment will post -0.15 EPS for the current fiscal year.

Lucky Strike Entertainment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.7%. Lucky Strike Entertainment’s dividend payout ratio is -38.71%.

Insider Transactions at Lucky Strike Entertainment

In related news, insider Lev Ekster sold 3,000 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $8.47, for a total transaction of $25,410.00. Following the sale, the insider owned 64,296 shares of the company’s stock, valued at approximately $544,587.12. This represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 84.20% of the company’s stock.

Institutional Trading of Lucky Strike Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. Private Management Group Inc. lifted its holdings in Lucky Strike Entertainment by 2.6% during the 4th quarter. Private Management Group Inc. now owns 1,911,134 shares of the company’s stock worth $16,187,000 after purchasing an additional 48,093 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings 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 valued at $4,003,000 after acquiring an additional 166,104 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Lucky Strike Entertainment by 291.5% in the 3rd quarter. Millennium Management LLC now owns 412,218 shares of the company’s stock valued at $4,221,000 after acquiring an additional 306,931 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of Lucky Strike Entertainment in the 2nd quarter valued at about $2,661,000. Finally, UBS Group AG raised its holdings in shares of Lucky Strike Entertainment by 46.7% in the 3rd quarter. UBS Group AG now owns 172,518 shares of the company’s stock valued at $1,767,000 after acquiring an additional 54,919 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

About Lucky Strike Entertainment

Lucky Strike Entertainment Corp. engages in operating bowling centers. It offers entertainment concepts with lounge seating, arcades, food and beverage offerings, and hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. The company was founded by Thomas F. Shannon in 1997 and is headquartered in Mechanicsville, VA.