Lucky Strike executive vice chairman Parker sells $20.2m in shares

In a recent transaction, Brett I. Parker, the Executive Vice Chairman of Lucky Strike Entertainment Corp (NYSE:LUCK), sold a significant portion of his holdings. The sale comes as the company’s stock has declined nearly 13% over the past week, with shares currently trading at $10.64. Parker sold 1,747,434 shares of Class A common stock at a price of $11.54 per share, amounting to a total of approximately $20.2 million. Following the sale, Parker retains ownership of 498,092 shares.

In addition to the stock sale, Parker agreed to cancel stock options for a compensation of $888,392. These transactions are expected to close in March 2025, subject to certain conditions.

In other recent news, Lucky Strike Entertainment reported fiscal second-quarter 2025 results that did not meet expectations, with revenue and adjusted EBITDA falling short. The company reported sales of $300 million, below analyst expectations of $318 million, and an EBITDA of $99 million, which was also below projections. Despite this, management has maintained its fiscal year 2025 guidance, expecting revenues between $1.23 billion and $1.28 billion and EBITDA ranging from $390 million to $430 million. In a financial maneuver, Lucky Strike secured $150 million in incremental term loans, with plans to use the funds for general corporate purposes, potentially including acquisitions.

JPMorgan recently downgraded Lucky Strike’s stock from Overweight to Neutral, lowering the price target from $15.00 to $12.00 due to challenges in the pricing environment. Meanwhile, Canaccord Genuity and Oppenheimer maintained their ratings with price targets of $18.00 and $15.00, respectively, reflecting varied analyst opinions. The company is also focusing on strategic growth, planning to convert 75 Bowlero locations to the Lucky Strike brand over two years and expand its Family Entertainment Centers. These developments indicate the company’s ongoing efforts to strengthen its financial position and expand its market presence.

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