Lucky Strike Entertainment (NYSE:LUCK – Get Free Report) shares fell 5.3% on Tuesday . The stock traded as low as $7.94 and last traded at $7.73. 5,300 shares were traded during mid-day trading, a decline of 96% from the average session volume of 148,618 shares. The stock had previously closed at $8.16.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on LUCK. JPMorgan Chase & Co. lowered Lucky Strike Entertainment from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $8.00 to $6.00 in a research report on Thursday, April 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Lucky Strike Entertainment in a research report on Monday, May 4th. Craig Hallum lowered Lucky Strike Entertainment from a “buy” rating to a “hold” rating and set a $6.50 price objective on the stock. in a research report on Thursday, May 7th. Jefferies Financial Group set a $12.00 price objective on Lucky Strike Entertainment in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $9.00 price objective on Lucky Strike Entertainment in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.69.
Check Out Our Latest Research Report on Lucky Strike Entertainment
Lucky Strike Entertainment Stock Down 6.1%
Lucky Strike Entertainment (NYSE:LUCK – Get Free Report) last issued 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 business had revenue of $342.23 million during the quarter, compared to the consensus estimate of $353.77 million. As a group, analysts forecast that Lucky Strike Entertainment will post -0.15 EPS for the current year.
Lucky Strike Entertainment Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, May 22nd. Lucky Strike Entertainment’s payout ratio is presently -38.71%.
Insider Activity
In related news, insider Lev Ekster sold 3,000 shares of Lucky Strike Entertainment stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $8.47, for a total value of $25,410.00. Following 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 document filed with the SEC, which can be accessed through this hyperlink. 84.20% of the stock is owned by insiders.
Hedge Funds Weigh In On Lucky Strike Entertainment
A number of institutional investors have recently bought and sold shares of the stock. State of Wyoming purchased a new stake in shares of Lucky Strike Entertainment in the fourth quarter valued at $74,000. Bank of America Corp DE purchased a new stake in shares of Lucky Strike Entertainment in the second quarter valued at $94,000. Jain Global LLC purchased a new stake in shares of Lucky Strike Entertainment in the third quarter valued at $121,000. R Squared Ltd purchased a new stake in shares of Lucky Strike Entertainment in the third quarter valued at $123,000. Finally, Invesco Ltd. purchased a new stake in shares of Lucky Strike Entertainment in the second quarter valued at $114,000. 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.
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