Lucky Strike Entertainment (NYSE:LUCK) Lowered to “Underweight” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Lucky Strike Entertainment (NYSE:LUCK) from a neutral rating to an underweight rating in a report published on Thursday morning, MarketBeat reports. The firm currently has $6.00 price objective on the stock, down from their prior price objective of $8.00.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group set a $13.00 price objective on shares of Lucky Strike Entertainment in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lucky Strike Entertainment in a research note on Monday, December 29th. 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, Roth Mkm restated a “neutral” rating and set a $7.50 price target on shares of Lucky Strike Entertainment in a report on Thursday, February 5th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Lucky Strike Entertainment has a consensus rating of “Hold” and an average price target of $11.08.

Lucky Strike Entertainment Stock Performance

Shares of Lucky Strike Entertainment stock opened at $7.52 on Thursday. The business’s 50 day moving average price is $8.32 and its 200 day moving average price is $8.43. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -11.57 and a beta of 0.69. Lucky Strike Entertainment has a one year low of $5.70 and a one year high of $11.61.

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

Insider Activity

In related news, Director John Alan Young purchased 6,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $39,000.00. Following the completion of the transaction, the director directly owned 85,518 shares in the company, valued at approximately $555,867. The trade was a 7.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lev Ekster sold 3,000 shares of the business’s stock in a transaction that occurred on 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 $544,587.12. This trade represents a 4.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 84.20% of the stock is currently owned by insiders.

Institutional Trading of Lucky Strike Entertainment

Several institutional investors have recently added to or reduced their stakes in LUCK. XTX Topco Ltd purchased a new stake in Lucky Strike Entertainment in the fourth quarter valued at approximately $428,000. Engineers Gate Manager LP boosted its position in shares of Lucky Strike Entertainment by 285.8% during the fourth quarter. Engineers Gate Manager LP now owns 46,874 shares of the company’s stock worth $397,000 after buying an additional 34,724 shares during the period. State of Wyoming acquired a new stake in shares of Lucky Strike Entertainment in the second quarter valued at $222,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Lucky Strike Entertainment in the fourth quarter valued at $137,000. Finally, Jain Global LLC purchased a new stake in shares of Lucky Strike Entertainment in the 3rd quarter valued at $121,000. Institutional investors and hedge funds 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.