Lucky Strike Entertainment (NYSE:LUCK) Sets New 12-Month Low – Here’s What Happened

Shares of Lucky Strike Entertainment (NYSE:LUCK) hit a new 52-week low during trading on Monday . The company traded as low as $7.66 and last traded at $7.75, with a volume of 201291 shares. The stock had previously closed at $8.11.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Lucky Strike Entertainment from a “sell” rating to a “hold” rating in a research report on Sunday. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Lucky Strike Entertainment in a report on Friday, August 29th. Zacks Research raised shares of Lucky Strike Entertainment from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 10th. Stifel Nicolaus raised their price objective on shares of Lucky Strike Entertainment from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, Roth Capital restated a “neutral” rating and set a $11.00 target price on shares of Lucky Strike Entertainment in a research report on Friday, August 29th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lucky Strike Entertainment currently has an average rating of “Hold” and a consensus target price of $11.67.

Lucky Strike Entertainment Stock Down 7.5%

The stock has a market capitalization of $1.05 billion, a PE ratio of -19.74 and a beta of 0.72. The stock’s 50 day moving average price is $9.25 and its 200-day moving average price is $9.51.

Lucky Strike Entertainment (NYSE:LUCK) last issued its earnings results on Wednesday, May 17th. The company reported $0.27 earnings per share for the quarter. Lucky Strike Entertainment had a negative net margin of 3.80% and a negative return on equity of 23.31%. The company had revenue of $257.82 million during the quarter. On average, analysts forecast that Lucky Strike Entertainment will post 0.43 earnings per share for the current year.

Lucky Strike Entertainment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a dividend of $0.055 per share. The ex-dividend date was Friday, August 29th. This represents a $0.22 annualized dividend and a dividend yield of 2.9%. Lucky Strike Entertainment’s dividend payout ratio (DPR) is currently -57.89%.

Insider Transactions at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, President Lev Ekster purchased 2,505 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were bought at an average cost of $9.99 per share, with a total value of $25,024.95. Following the acquisition, the president owned 71,800 shares in the company, valued at approximately $717,282. This trade represents a 3.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 6,779 shares of company stock worth $64,272. 84.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lucky Strike Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of Lucky Strike Entertainment by 291.5% in the third quarter. Millennium Management LLC now owns 412,218 shares of the company’s stock worth $4,221,000 after buying an additional 306,931 shares in the last quarter. Jain Global LLC purchased a new stake in Lucky Strike Entertainment in the 3rd quarter worth $121,000. UBS Group AG boosted its holdings in shares of Lucky Strike Entertainment by 46.7% during the 3rd quarter. UBS Group AG now owns 172,518 shares of the company’s stock valued at $1,767,000 after purchasing an additional 54,919 shares during the last quarter. FourThought Financial Partners LLC purchased a new position in shares of Lucky Strike Entertainment during the third quarter valued at about $261,000. Finally, R Squared Ltd bought a new stake in shares of Lucky Strike Entertainment in the third quarter worth about $123,000. 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.