Lucky Strike Entertainment (NYSE:LUCK) Sees Strong Trading Volume Following Earnings Beat

Lucky Strike Entertainment (NYSE:LUCK) saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 973,324 shares traded hands during trading, an increase of 199% from the previous session’s volume of 325,501 shares.The stock last traded at $8.23 and had previously closed at $8.24.

The company reported $0.27 EPS for the quarter. The company had revenue of $257.82 million during the quarter. Lucky Strike Entertainment had a negative net margin of 3.80% and a negative return on equity of 23.31%.

Lucky Strike Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, August 29th. Lucky Strike Entertainment’s payout ratio is -57.89%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LUCK shares. Stifel Nicolaus upped their price objective on shares of Lucky Strike Entertainment from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lucky Strike Entertainment in a research report on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of Lucky Strike Entertainment in a research report on Friday, August 29th. Roth Capital reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Lucky Strike Entertainment in a research report on Friday, August 29th. Finally, Zacks Research raised Lucky Strike Entertainment from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 10th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lucky Strike Entertainment currently has a consensus rating of “Hold” and an average price target of $12.20.

Insider Transactions at Lucky Strike Entertainment

In related news, President Lev Ekster purchased 2,505 shares of the business’s stock in a transaction on Friday, September 5th. The stock was acquired at an average price of $9.99 per share, for a total transaction of $25,024.95. Following the purchase, the president owned 71,800 shares of the company’s stock, valued at approximately $717,282. This trade represents a 3.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 5,179 shares of company stock worth $51,627. 84.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lucky Strike Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of LUCK. Diversified Trust Co purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth approximately $267,000. Farther Finance Advisors LLC purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth approximately $30,000. Bfsg LLC purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth approximately $137,000. North Star Investment Management Corp. purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth approximately $552,000. Finally, Dakota Wealth Management purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth approximately $238,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Lucky Strike Entertainment Stock Performance

The business has a 50 day moving average price of $9.52 and a two-hundred day moving average price of $9.55. The stock has a market cap of $1.13 billion, a PE ratio of -21.24 and a beta of 0.72.

Lucky Strike Entertainment Company Profile

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.