Lucky Strike Entertainment (NYSE:LUCK) Trading Down 5.9% – Here’s What Happened

Shares of Lucky Strike Entertainment (NYSE:LUCK) traded down 5.9% on Monday . The stock traded as low as $8.26 and last traded at $8.2450. 26,343 shares were traded during mid-day trading, a decline of 82% from the average session volume of 149,012 shares. The stock had previously closed at $8.76.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. downgraded Lucky Strike Entertainment from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Thursday, April 23rd. Jefferies Financial Group set a $12.00 price objective on shares of Lucky Strike Entertainment in a report on Wednesday, May 6th. Craig Hallum downgraded shares of Lucky Strike Entertainment from a “buy” rating to a “hold” rating and set a $6.50 price objective for the company. in a report on Thursday, May 7th. UBS Group downgraded shares of Lucky Strike Entertainment to a “hold” rating and set a $6.50 price objective for the company. in a report on Thursday, May 7th. Finally, Stifel Nicolaus set a $9.00 price objective on shares of Lucky Strike Entertainment in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lucky Strike Entertainment has an average rating of “Hold” and a consensus target price of $8.69.

Lucky Strike Entertainment Trading Up 2.1%

The stock has a market capitalization of $1.11 billion, a P/E ratio of -13.06 and a beta of 0.60. The business has a 50-day moving average price of $8.24 and a 200 day moving average price of $8.35.

Lucky Strike Entertainment (NYSE:LUCK) last posted its earnings results on Wednesday, May 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). The firm had revenue of $342.23 million during the quarter, compared to analysts’ expectations of $353.77 million. On average, sell-side analysts predict that Lucky Strike Entertainment will post -0.2 earnings per share for the current fiscal year.

Lucky Strike Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.0%. Lucky Strike Entertainment’s dividend payout ratio (DPR) is presently -38.71%.

Insider Activity 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 shares were sold at an average price of $8.47, for a total value of $25,410.00. Following the completion of the transaction, the insider owned 64,296 shares of the company’s stock, valued at approximately $544,587.12. This trade represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 84.20% of the company’s stock.

Institutional Trading of Lucky Strike Entertainment

A number of institutional investors have recently bought and sold shares of the stock. Private Management Group Inc. lifted its position in Lucky Strike Entertainment by 2.6% in the fourth quarter. Private Management Group Inc. now owns 1,911,134 shares of the company’s stock worth $16,187,000 after buying an additional 48,093 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in Lucky Strike Entertainment by 52.7% in the first 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. Millennium Management LLC lifted its position in 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 during the last quarter. Geode Capital Management LLC bought a new stake in Lucky Strike Entertainment in the second quarter worth $2,661,000. Finally, UBS Group AG lifted its position in Lucky Strike Entertainment by 46.7% in the third quarter. UBS Group AG now owns 172,518 shares of the company’s stock worth $1,767,000 after buying an additional 54,919 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

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.