Lucky Strike Entertainment (NYSE:LUCK) Sets New 52-Week Low After Earnings Miss

Lucky Strike Entertainment (NYSE:LUCK)’s share price hit a new 52-week low during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $7.66 and last traded at $8.26, with a volume of 1171972 shares changing hands. The stock had previously closed at $9.57.

The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.16). Lucky Strike Entertainment had a net margin of 1.11% and a negative return on equity of 35.76%.

Lucky Strike Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.66%. Lucky Strike Entertainment’s payout ratio is -2,200.00%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial lowered their price objective on Lucky Strike Entertainment from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of Lucky Strike Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price target (down previously from $18.00) on shares of Lucky Strike Entertainment in a research note on Monday.

Insider Buying and Selling

In other Lucky Strike Entertainment news, Vice Chairman Brett I. Parker sold 1,747,434 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $11.54, for a total value of $20,165,388.36. Following the completion of the transaction, the insider now directly owns 498,092 shares of the company’s stock, valued at approximately $5,747,981.68. The trade was a 77.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Alan Young purchased 3,685 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were acquired at an average cost of $10.13 per share, for a total transaction of $37,329.05. Following the transaction, the director now owns 69,423 shares of the company’s stock, valued at $703,254.99. This trade represents a 5.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 6,163 shares of company stock valued at $62,213 in the last 90 days. 79.90% of the stock is owned by insiders.

Lucky Strike Entertainment Stock Down 13.7 %

The company’s fifty day moving average is $9.31. The firm has a market cap of $1.18 billion, a P/E ratio of -825.17 and a beta of 0.80.

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.