Lucky Strike Entertainment (NYSE:LUCK) Shares Gap Down on Analyst Downgrade

Lucky Strike Entertainment (NYSE:LUCK) shares gapped down before the market opened on Thursday after JPMorgan Chase & Co. downgraded the stock from a neutral rating to an underweight rating. The stock had previously closed at $8.76, but opened at $8.16. JPMorgan Chase & Co. now has a $6.00 price target on the stock, down from their previous price target of $8.00. Lucky Strike Entertainment shares last traded at $8.2050, with a volume of 26,824 shares traded.

Other equities analysts also recently issued reports about the stock. Roth Mkm restated a “neutral” rating and set a $7.50 target price on shares of Lucky Strike Entertainment in a report on Thursday, February 5th. Wall Street Zen downgraded shares of Lucky Strike Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Canaccord Genuity Group set a $13.00 price objective on shares of Lucky Strike Entertainment in a report 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. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.08.

Insider Buying and Selling at Lucky Strike Entertainment

In related news, Director John Alan Young acquired 6,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were purchased at an average cost of $6.50 per share, for a total transaction of $39,000.00. Following the completion of the acquisition, the director directly owned 85,518 shares in the company, valued at approximately $555,867. This trade represents a 7.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lev Ekster sold 3,000 shares of the company’s stock in a transaction 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 transaction, the insider owned 64,296 shares in the company, valued at approximately $544,587.12. This represents a 4.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 84.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Lucky Strike Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in shares of Lucky Strike Entertainment in the fourth quarter valued at about $428,000. Engineers Gate Manager LP grew its stake in shares of Lucky Strike Entertainment by 285.8% in the fourth quarter. Engineers Gate Manager LP now owns 46,874 shares of the company’s stock valued at $397,000 after acquiring an additional 34,724 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Lucky Strike Entertainment in the fourth quarter valued at about $137,000. Rice Hall James & Associates LLC grew its stake in shares of Lucky Strike Entertainment by 38.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 315,085 shares of the company’s stock valued at $2,669,000 after acquiring an additional 87,656 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Lucky Strike Entertainment by 110.4% in the fourth quarter. Squarepoint Ops LLC now owns 40,130 shares of the company’s stock valued at $340,000 after acquiring an additional 21,059 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Lucky Strike Entertainment Stock Down 14.2%

The company’s 50 day moving average is $8.32 and its 200 day moving average is $8.43. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -11.57 and a beta of 0.69.

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

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.