Lucky Strike Entertainment (NYSE:LUCK) Cut to “Underweight” at JPMorgan Chase & Co.

Lucky Strike Entertainment (NYSE:LUCK) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Thursday, Marketbeat reports. They presently have a $6.00 price objective on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 31.51% from the company’s current price.

Several other brokerages have also commented on LUCK. Canaccord Genuity Group set a $13.00 price objective on shares of Lucky Strike Entertainment in a report on Thursday, February 5th. Roth Mkm restated a “neutral” rating and issued a $7.50 price objective on shares of Lucky Strike Entertainment in a report on Thursday, February 5th. Wall Street Zen lowered shares of Lucky Strike Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucky Strike Entertainment in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.08.

Lucky Strike Entertainment Trading Down 0.5%

Shares of NYSE LUCK opened at $8.76 on Thursday. Lucky Strike Entertainment has a 12 month low of $5.70 and a 12 month high of $11.61. The firm has a market capitalization of $1.21 billion, a PE ratio of -13.48 and a beta of 0.69. The firm has a fifty day simple moving average of $8.32 and a two-hundred day simple moving average of $8.43.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings data on Wednesday, February 4th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.14). The business had revenue of $306.86 million for the quarter, compared to analyst estimates of $313.83 million. On average, sell-side analysts predict that Lucky Strike Entertainment will post 0.01 earnings per share for the current year.

Insider Transactions at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, insider Lev Ekster sold 3,000 shares of the firm’s stock in a transaction dated 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 approximately $544,587.12. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Alan Young acquired 6,000 shares of Lucky Strike Entertainment stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $6.50 per share, with a total value of $39,000.00. Following the completion of the purchase, the director owned 85,518 shares in the company, valued at $555,867. This represents a 7.55% increase in their position. The SEC filing for this purchase provides additional information. 84.20% of the stock is currently owned by company insiders.

Institutional Trading of Lucky Strike Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of LUCK. Millennium Management LLC increased its stake in Lucky Strike Entertainment by 291.5% during the 3rd 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 bought a new stake in shares of Lucky Strike Entertainment in the second quarter worth approximately $2,661,000. Jane Street Group LLC bought a new stake in shares of Lucky Strike Entertainment in the second quarter worth approximately $1,117,000. Maven Securities LTD purchased a new position in shares of Lucky Strike Entertainment in the fourth quarter worth approximately $1,036,000. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Lucky Strike Entertainment by 38.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 315,085 shares of the company’s stock worth $2,669,000 after buying an additional 87,656 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.