Lucky Strike Entertainment (NYSE:LUCK) Hits New 12-Month Low – Should You Sell?

Shares of Lucky Strike Entertainment (NYSE:LUCK) hit a new 52-week low during trading on Thursday. The company traded as low as $4.59 and last traded at $4.6750, with a volume of 10,280 shares trading hands. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. Citizens Jmp assumed coverage on shares of Lucky Strike Entertainment in a report on Monday, June 29th. They set a “market perform” rating for the company. Stifel Nicolaus decreased 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 report on Friday, August 28th. Roth Capital set a $6.50 target price on shares of Lucky Strike Entertainment in a research note on Friday, August 28th. Finally, Jefferies Financial Group set a $10.00 target price on shares of Lucky Strike Entertainment in a report on Thursday, August 27th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.17.

Lucky Strike Entertainment Price Performance

The company’s 50-day moving average price is $5.63 and its 200-day moving average price is $7.03. The company has a market cap of $569.86 million, a P/E ratio of -12.29 and a beta of 0.66.

Lucky Strike Entertainment (NYSE:LUCK) last posted 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 company had revenue of $303.95 million for the quarter, compared to analyst estimates of $311.30 million. On average, equities research analysts predict that Lucky Strike Entertainment will post -0.02 EPS for the current year.

Lucky Strike Entertainment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, September 8th. Lucky Strike Entertainment’s payout ratio is currently -70.59%.

Insiders Place Their Bets

In other Lucky Strike Entertainment news, Director Sandeep Mathrani bought 9,350 shares of Lucky Strike Entertainment stock in a transaction that occurred on Friday, August 28th. The stock was acquired 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 owned 9,350 shares of the company’s stock, valued at $59,933.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Shannon bought 30,000 shares of the firm’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 transaction, the chief executive officer owned 3,144,000 shares of the company’s stock, valued at $18,423,840. This represents a 0.96% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 43,537 shares of company stock worth $261,064. 84.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lucky Strike Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rice Hall James & Associates LLC increased its holdings in Lucky Strike Entertainment by 52.7% during 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. Great Lakes Advisors LLC acquired a new stake in Lucky Strike Entertainment in the second quarter valued at $1,361,000. Finally, Squarepoint Ops LLC lifted its stake in Lucky Strike Entertainment by 69.8% in the second 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 during the last quarter. Institutional investors own 68.11% of the company’s stock.

About Lucky Strike Entertainment

Lucky Strike Entertainment Corp. is an operator of location-based entertainment venues centered on bowling. The company provides recreational and social experiences through bowling lanes, arcade games, food and beverage offerings, and spaces for parties, corporate events and other group gatherings.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF, serving customers across the United States and Canada. Its locations range from upscale entertainment venues to traditional bowling centers, with offerings designed for families, casual visitors, league bowlers and private-event guests.

Lucky Strike Entertainment was previously known as Bowlero Corp.