Lucky Strike Entertainment (NYSE:LUCK) Stock Jumps 14% – Time to Buy?

Lucky Strike Entertainment (NYSE:LUCK) rose 14% on Tuesday. The company traded as high as $5.14 and last traded at $5.2990. Approximately 9,766 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 125,518 shares. The stock had previously closed at $4.65.

Wall Street Analyst Weigh In

LUCK has been the subject of a number of research reports. Jefferies Financial Group set a $10.00 target price on shares of Lucky Strike Entertainment in a research report on Thursday, August 27th. Truist Financial set a $10.00 price objective on shares of Lucky Strike Entertainment in a report on Thursday, August 27th. Citizens Jmp began coverage on Lucky Strike Entertainment in a research note on Monday, June 29th. They issued a “market perform” rating for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lucky Strike Entertainment in a report on Friday, July 31st. Finally, Roth Capital set a $6.50 price target on shares of Lucky Strike Entertainment in a research note on Friday, August 28th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.39.

Lucky Strike Entertainment Stock Up 8.8%

The stock has a market cap of $689.56 million, a P/E ratio of -14.78 and a beta of 0.66. The firm’s fifty day moving average price is $5.80 and its 200-day moving average price is $7.13.

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 firm had revenue of $303.95 million for the quarter, compared to analysts’ expectations of $311.30 million. Sell-side analysts predict that Lucky Strike Entertainment will post -0.02 earnings per share for the current year.

Lucky Strike Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.24 annualized dividend and a dividend yield of 4.7%. Lucky Strike Entertainment’s payout ratio is -70.59%.

Insider Buying and Selling

In other Lucky Strike Entertainment news, Director Sandeep Mathrani bought 9,350 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average price of $6.41 per share, for a total transaction of $59,933.50. Following the completion of the acquisition, the director directly owned 9,350 shares in the company, valued at $59,933.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Shannon purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was acquired at an average cost of $5.86 per share, with a total value of $175,800.00. Following the purchase, the chief executive officer directly owned 3,144,000 shares of the company’s stock, valued at $18,423,840. This trade represents a 0.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 43,537 shares of company stock valued at $261,064. 84.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC raised its holdings in 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. Great Lakes Advisors LLC bought a new stake in shares of Lucky Strike Entertainment during the 2nd quarter valued at about $1,361,000. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Lucky Strike Entertainment by 52.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 481,189 shares of the company’s stock valued at $4,003,000 after purchasing an additional 166,104 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corporation (NYSE: LUCK) is an operator of bowling and location-based entertainment venues. Its centers offer traditional and boutique bowling, arcade games, billiards, laser tag, and other recreational activities, along with food and beverage services.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF. Its facilities serve a range of customers, including families, casual entertainment seekers, league bowlers, and corporate or private-event groups.