Thomas Shannon Buys 30,000 Shares of Lucky Strike Entertainment (NYSE:LUCK) Stock

Lucky Strike Entertainment (NYSE:LUCK) CEO Thomas Shannon bought 30,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were bought at an average cost of $5.86 per share, with a total value of $175,800.00. Following the completion of the purchase, the chief executive officer directly owned 3,144,000 shares of the company’s stock, valued at approximately $18,423,840. This trade represents a 0.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Lucky Strike Entertainment Stock Down 5.7%

LUCK traded down $0.33 on Wednesday, reaching $5.48. 149,512 shares of the company traded hands, compared to its average volume of 135,563. The company has a market cap of $746.67 million, a P/E ratio of -16.11 and a beta of 0.62. Lucky Strike Entertainment has a one year low of $5.44 and a one year high of $10.82. The firm has a fifty day simple moving average of $6.88 and a two-hundred day simple moving average of $7.74.

Lucky Strike Entertainment (NYSE:LUCK) last issued its earnings results on Thursday, August 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.15). The firm had revenue of $303.95 million for the quarter, compared to analyst estimates of $311.30 million. On average, equities analysts forecast that Lucky Strike Entertainment will post -0.02 earnings per share for the current year.

Lucky Strike Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 8th. Lucky Strike Entertainment’s payout ratio is presently -70.59%.

Hedge Funds Weigh In On Lucky Strike Entertainment

Large investors have recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Lucky Strike Entertainment during the 4th quarter worth about $74,000. Squarepoint Ops LLC grew its stake in Lucky Strike Entertainment by 69.8% during the 2nd quarter. Squarepoint Ops LLC now owns 22,158 shares of the company’s stock valued at $166,000 after acquiring an additional 9,112 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Lucky Strike Entertainment in the second quarter valued at approximately $94,000. Jain Global LLC acquired a new position in shares of Lucky Strike Entertainment during the 3rd quarter valued at about $121,000. Finally, Invesco Ltd. purchased a new stake in shares of Lucky Strike Entertainment during the 2nd quarter valued at approximately $114,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LUCK has been the topic of several research reports. 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. Zacks Research downgraded shares of Lucky Strike Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 31st. Stifel Nicolaus reduced their price objective on shares of Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 28th. Citigroup began coverage on Lucky Strike Entertainment in a research note on Monday, June 29th. They set a “market perform” rating on the stock. Finally, Citizens Jmp began coverage on shares of Lucky Strike Entertainment in a report on Monday, June 29th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.39.

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.