Piper Sandler Issues Pessimistic Forecast for Lucky Strike Entertainment (NYSE:LUCK) Stock Price

Lucky Strike Entertainment (NYSE:LUCK) had its price target decreased by Piper Sandler from $10.00 to $9.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 9.76% from the stock’s current price.

Several other equities research analysts have also commented on LUCK. Wall Street Zen upgraded Lucky Strike Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of Lucky Strike Entertainment in a report on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Lucky Strike Entertainment in a research note on Friday, August 29th. Roth Capital reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Lucky Strike Entertainment in a research report on Friday, August 29th. Finally, Zacks Research raised shares of Lucky Strike Entertainment from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 10th. Three research 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.com, Lucky Strike Entertainment has an average rating of “Hold” and a consensus price target of $11.67.

Lucky Strike Entertainment Stock Up 3.4%

Lucky Strike Entertainment stock opened at $8.20 on Monday. Lucky Strike Entertainment has a 52-week low of $7.66 and a 52-week high of $13.25. The company has a market cap of $1.15 billion, a P/E ratio of -21.58 and a beta of 0.72. The business has a 50-day simple moving average of $9.37 and a two-hundred day simple moving average of $9.54.

Lucky Strike Entertainment (NYSE:LUCK) last announced its earnings results on Wednesday, May 17th. The company reported $0.27 earnings per share (EPS) for the quarter. Lucky Strike Entertainment had a negative net margin of 3.80% and a negative return on equity of 23.31%. The company had revenue of $257.82 million during the quarter. Research analysts anticipate that Lucky Strike Entertainment will post 0.43 EPS for the current fiscal year.

Insider Activity

In related news, President Lev Ekster bought 2,505 shares of the stock in a transaction dated Friday, September 5th. The shares were purchased at an average price of $9.99 per share, with a total value of $25,024.95. Following the completion of the acquisition, the president owned 71,800 shares of the company’s stock, valued at $717,282. This represents a 3.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 6,779 shares of company stock worth $64,272 in the last quarter. Company insiders own 84.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LUCK. Rice Hall James & Associates LLC increased its position in Lucky Strike Entertainment by 30.1% in the third quarter. Rice Hall James & Associates LLC now owns 227,429 shares of the company’s stock worth $2,329,000 after purchasing an additional 52,569 shares during the last quarter. GatePass Capital LLC purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $91,000. State of Wyoming bought a new stake in shares of Lucky Strike Entertainment in the 2nd quarter worth about $222,000. Bank of America Corp DE purchased a new stake in shares of Lucky Strike Entertainment during the 2nd quarter valued at about $94,000. Finally, Jane Street Group LLC bought a new position in shares of Lucky Strike Entertainment in the 2nd quarter valued at about $1,117,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.