Lucky Strike Entertainment (NYSE:LUCK) Shares Gap Down Following Weak Earnings

Lucky Strike Entertainment (NYSE:LUCK) shares gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $9.57, but opened at $8.48. Lucky Strike Entertainment shares last traded at $8.15, with a volume of 153,318 shares trading hands.

The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.16). The business had revenue of $339.88 million for the quarter, compared to analysts’ expectations of $361.42 million. Lucky Strike Entertainment had a negative return on equity of 35.76% and a net margin of 1.11%.

Lucky Strike Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, May 23rd. Lucky Strike Entertainment’s dividend payout ratio (DPR) is -2,200.00%.

Analysts Set New Price Targets

A number of research firms recently commented on LUCK. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price target (down from $18.00) on shares of Lucky Strike Entertainment in a report on Monday. JPMorgan Chase & Co. lowered their target price on shares of Lucky Strike Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Truist Financial cut their target price on shares of Lucky Strike Entertainment from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, April 14th.

Insider Activity at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, Director John Alan Young purchased 3,685 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average price of $10.13 per share, with a total value of $37,329.05. Following the acquisition, the director now owns 69,423 shares in the company, valued at approximately $703,254.99. The trade was a 5.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Brett I. Parker sold 1,747,434 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $11.54, for a total value of $20,165,388.36. Following the sale, the insider now directly owns 498,092 shares in the company, valued at $5,747,981.68. The trade was a 77.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 6,163 shares of company stock valued at $62,213. Insiders own 79.90% of the company’s stock.

Lucky Strike Entertainment Stock Performance

The firm’s 50-day moving average is $9.29. The company has a market capitalization of $1.25 billion, a PE ratio of -876.12 and a beta of 0.80.

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.