Lucky Strike Entertainment (NYSE:LUCK) Trading Up 4.4% – Here’s Why

Shares of Lucky Strike Entertainment (NYSE:LUCK) traded up 4.4% on Monday . The company traded as high as $7.66 and last traded at $7.6240. Approximately 7,546 shares were traded during trading, a decline of 95% from the average daily volume of 150,810 shares. The stock had previously closed at $7.30.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUCK. UBS Group downgraded shares of Lucky Strike Entertainment to a “hold” rating and set a $6.50 price target on the stock. in a report on Thursday, May 7th. JPMorgan Chase & Co. cut shares of 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. Wall Street Zen raised shares of Lucky Strike Entertainment from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Jefferies Financial Group set a $12.00 target price on shares of Lucky Strike Entertainment in a research note on Wednesday, May 6th. Finally, Citigroup initiated coverage on shares of Lucky Strike Entertainment in a report on Monday, June 29th. They issued a “market perform” rating for the company. Three investment 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. According to data from MarketBeat.com, Lucky Strike Entertainment has a consensus rating of “Hold” and a consensus price target of $8.69.

Lucky Strike Entertainment Stock Performance

The firm has a market capitalization of $1.03 billion, a P/E ratio of -12.16 and a beta of 0.61. The business has a 50 day simple moving average of $8.03 and a two-hundred day simple moving average of $8.22.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings results 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 firm had revenue of $342.23 million during the quarter, compared to analysts’ expectations of $353.77 million. On average, equities analysts anticipate that Lucky Strike Entertainment will post -0.2 earnings per share for the current fiscal year.

Lucky Strike Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, May 22nd. Lucky Strike Entertainment’s dividend payout ratio (DPR) is currently -38.71%.

Insider Transactions at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, insider Lev Ekster sold 3,000 shares of Lucky Strike Entertainment stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $8.47, for a total transaction of $25,410.00. Following the completion of the sale, the insider directly owned 64,296 shares in the company, valued at $544,587.12. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 84.20% of the stock is currently owned by insiders.

Institutional Trading of Lucky Strike Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in LUCK. Private Management Group Inc. lifted its holdings in shares of 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 acquiring an additional 48,093 shares during the last quarter. Rice Hall James & Associates LLC increased its stake 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 valued at $4,003,000 after acquiring an additional 166,104 shares during the last quarter. Millennium Management LLC raised its position in Lucky Strike Entertainment by 291.5% during the third quarter. Millennium Management LLC now owns 412,218 shares of the company’s stock valued at $4,221,000 after purchasing an additional 306,931 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Lucky Strike Entertainment during the second quarter valued at about $2,661,000. Finally, UBS Group AG lifted its stake in Lucky Strike Entertainment by 46.7% during the third quarter. UBS Group AG now owns 172,518 shares of the company’s stock worth $1,767,000 after purchasing an additional 54,919 shares during 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.