Lucky Strike Entertainment (NYSE:LUCK) Shares Gap Up After Insider Buying Activity

Shares of Lucky Strike Entertainment (NYSE:LUCK) gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $8.16, but opened at $8.60. Lucky Strike Entertainment shares last traded at $8.46, with a volume of 118,757 shares trading hands.

Specifically, Director Richard Meynard Born bought 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were acquired at an average cost of $8.09 per share, with a total value of $242,700.00. Following the acquisition, the director owned 30,000 shares of the company’s stock, valued at $242,700. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

LUCK has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price objective on shares of Lucky Strike Entertainment from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Wall Street Zen upgraded shares of Lucky Strike Entertainment from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Piper Sandler decreased their price target on shares of Lucky Strike Entertainment from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Lucky Strike Entertainment in a research report on Monday. Finally, Zacks Research upgraded Lucky Strike Entertainment from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 10th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lucky Strike Entertainment has a consensus rating of “Hold” and an average target price of $11.67.

Lucky Strike Entertainment Stock Up 1.3%

The company’s fifty day moving average price is $8.63 and its 200 day moving average price is $9.36. The company has a market capitalization of $1.19 billion, a P/E ratio of -22.37 and a beta of 0.72.

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

Institutional Trading of Lucky Strike Entertainment

Large investors have recently modified their holdings of the stock. Champlain Investment Partners LLC acquired a new position in Lucky Strike Entertainment in the second quarter valued at about $23,774,000. Private Management Group Inc. acquired a new stake in Lucky Strike Entertainment during the second quarter worth about $17,143,000. Systematic Financial Management LP bought a new position in Lucky Strike Entertainment in the 2nd quarter valued at about $5,785,000. Primecap Management Co. CA bought a new position in Lucky Strike Entertainment in the 2nd quarter valued at about $2,985,000. Finally, Millennium Management LLC raised its position 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 buying an additional 306,931 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.