Shares of Lucky Strike Entertainment (NYSE:LUCK) have received a consensus rating of “Hold” from nine analysts currently covering the stock, according to MarketBeat. The assessments vary, with one research analyst recommending a sell, four suggesting a hold, and four assigning a buy rating.
The average price target among brokerages for the next year is set at $12.57. Recently, several analysts provided insights into the stock’s performance. On December 15, 2023, Weiss Ratings reiterated a “sell (d-)” rating for shares of Lucky Strike Entertainment. In contrast, Jefferies Financial Group maintained a “buy” rating and set a target price of $18.00 for the stock on the same day.
Prior to that, Piper Sandler adjusted their price target from $10.00 to $9.00, assigning a “neutral” rating in a note published on November 10. Roth Capital also reaffirmed a “neutral” rating, issuing a target price of $11.00 on August 29.
Recent Financial Performance and Insider Activity
Lucky Strike Entertainment reported its quarterly earnings results on May 17, 2023, revealing earnings per share (EPS) of $0.27 and revenue of $257.82 million. The company recorded a negative return on equity of 23.31% and a negative net margin of 3.80%. Analysts anticipate an EPS of $0.43 for the current fiscal year.
In a notable transaction, Richard Meynard Born, a director of the company, acquired 30,000 shares on November 28 at an average cost of $8.09 per share, amounting to a total investment of $242,700. Following this purchase, Born directly owns shares valued at $242,700, marking a significant increase in his stake. Over the past 90 days, insiders purchased a total of 32,401 shares valued at $262,149, with insiders owning approximately 84.20% of the stock.
Institutional Investor Trends
Recent activity among institutional investors has seen fluctuations in ownership stakes in Lucky Strike Entertainment. During the second quarter, Farther Finance Advisors LLC acquired a new stake valued at $30,000. Spire Wealth Management invested around $42,000, while PNC Financial Services Group Inc. took a position worth about $50,000. Additionally, GatePass Capital LLC and Bank of America Corp DE made new investments valued at approximately $91,000 and $94,000, respectively. Currently, institutional investors and hedge funds collectively own around 68.11% of the stock.
Founded in 1997 by Thomas F. Shannon, Lucky Strike Entertainment operates bowling centers that feature a combination of lounge seating, arcades, food and beverage offerings, as well as hosting professional and non-professional bowling tournaments. The company is headquartered in Mechanicsville, VA.
As the financial landscape evolves, stakeholders will be closely monitoring Lucky Strike Entertainment’s performance and the implications of analyst ratings on stock movements.
