JPMorgan Chase & Co. Downgrades Lucky Strike Entertainment (NYSE:LUCK) to Underweight

Lucky Strike Entertainment (NYSE:LUCK) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $6.00 price objective on the stock, down from their prior price objective of $8.00. JPMorgan Chase & Co.‘s price target indicates a potential downside of 17.01% from the stock’s current price.

LUCK has been the topic of several other research reports. Roth Mkm reaffirmed a “neutral” rating and set a $7.50 price target on shares of Lucky Strike Entertainment in a research note on Thursday, February 5th. Canaccord Genuity Group set a $13.00 price target on Lucky Strike Entertainment in a research note 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. Finally, Wall Street Zen lowered Lucky Strike Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.08.

Lucky Strike Entertainment Stock Performance

Lucky Strike Entertainment stock opened at $7.23 on Thursday. The firm has a market cap of $995.64 million, a P/E ratio of -11.12 and a beta of 0.69. The business’s fifty day moving average is $8.31 and its two-hundred day moving average is $8.40. Lucky Strike Entertainment has a 52 week low of $5.70 and a 52 week high of $11.61.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly 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 firm had revenue of $306.86 million during the quarter, compared to analyst estimates of $313.83 million. On average, equities research analysts predict that Lucky Strike Entertainment will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, insider Lev Ekster sold 3,000 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $8.47, for a total value of $25,410.00. Following the transaction, the insider owned 64,296 shares of the company’s stock, valued at approximately $544,587.12. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Alan Young bought 6,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was bought at an average cost of $6.50 per share, for a total transaction of $39,000.00. Following the purchase, the director directly owned 85,518 shares of the company’s stock, valued at approximately $555,867. This trade represents a 7.55% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 84.20% of the company’s stock.

Hedge Funds Weigh In On Lucky Strike Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in Lucky Strike Entertainment in the fourth quarter valued at about $74,000. Bank of America Corp DE acquired a new position in Lucky Strike Entertainment in the second quarter valued at about $94,000. Invesco Ltd. acquired a new position in Lucky Strike Entertainment in the second quarter valued at about $114,000. Jain Global LLC acquired a new position in Lucky Strike Entertainment in the third quarter valued at about $121,000. Finally, R Squared Ltd acquired a new position in Lucky Strike Entertainment in the third quarter valued at about $123,000. 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.