Lucky Strike Entertainment (NYSE:LUCK) Shares Gap Up – What’s Next?

Lucky Strike Entertainment (NYSE:LUCK)’s share price gapped up before the market opened on Friday . The stock had previously closed at $7.54, but opened at $7.93. Lucky Strike Entertainment shares last traded at $7.86, with a volume of 30,596 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LUCK shares. Wall Street Zen downgraded shares of Lucky Strike Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Jefferies Financial Group reissued a “buy” rating and issued a $18.00 price objective on shares of Lucky Strike Entertainment in a research report on Monday, December 15th. Piper Sandler dropped their target price on shares of Lucky Strike Entertainment from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Roth Mkm reiterated a “neutral” rating and issued a $7.50 target price on shares of Lucky Strike Entertainment in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucky Strike Entertainment in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.64.

Lucky Strike Entertainment Stock Up 5.7%

The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -12.26 and a beta of 0.71. The company’s 50 day moving average is $8.54 and its 200 day moving average is $9.03.

Lucky Strike Entertainment (NYSE:LUCK) last posted its quarterly earnings data on Wednesday, February 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The business had revenue of $306.86 million for the quarter, compared to analysts’ expectations of $313.83 million. On average, analysts expect that Lucky Strike Entertainment will post 0.43 EPS for the current year.

Insider Buying and Selling

In related news, Director John Alan Young acquired 6,000 shares of the stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $6.50 per share, for a total transaction of $39,000.00. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Meynard Born acquired 30,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was bought at an average cost of $8.09 per share, with a total value of $242,700.00. Following the completion of the acquisition, the director directly owned 30,000 shares in the company, valued at approximately $242,700. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 36,801 shares of company stock worth $288,504 in the last three months. 84.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lucky Strike Entertainment

A number of institutional investors have recently modified their holdings of LUCK. Champlain Investment Partners LLC bought a new stake in shares of Lucky Strike Entertainment during the 2nd quarter worth $23,774,000. Private Management Group Inc. raised its stake in Lucky Strike Entertainment by 2.6% during the fourth quarter. Private Management Group Inc. now owns 1,911,134 shares of the company’s stock worth $16,187,000 after acquiring an additional 48,093 shares in the last quarter. Systematic Financial Management LP bought a new position in shares of Lucky Strike Entertainment in the second quarter worth about $5,785,000. Millennium Management LLC boosted its stake in shares of Lucky Strike Entertainment by 291.5% in 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. Finally, Primecap Management Co. CA acquired a new stake in shares of Lucky Strike Entertainment in the 2nd quarter valued at approximately $2,985,000. 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.