NTN Buzztime Inc (NYSEMKT:NTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “NTN Buzztime, Inc.is a leading developer, publisher and distributor of interactive entertainment for massive audiences on numerous consumer platforms. Millions of people are exposed to the Buzztime Network every month in restaurants, sports bars and pubs throughout the U.S., Canada and the UK. Originating from the Buzztime iTV Studio in Carlsbad, CA for over 20 years, the Network includes trivia game shows, card games, live sports games, polling and other games that enable a virtually unlimited number of people to play live competitions against one another for fun, prizes and fame. Buzztime’s programming is also available on cable TV, satellite TV, mobile phones, electronic home games, portable travel games and as a trivia book series. The Company also owns and operates NTN Hospitality Technologies which develops, sells and services software and technology that increase productivity and sales in casual dining restaurants. “
Other research analysts have also issued reports about the company. Roth Capital set a $9.00 price objective on NTN Buzztime and gave the stock a “hold” rating in a research report on Tuesday, August 1st. ValuEngine upgraded NTN Buzztime from a “sell” rating to a “hold” rating in a research report on Friday, August 4th.
NTN Buzztime (NTN) opened at 7.60 on Tuesday. The stock has a 50 day moving average price of $6.39 and a 200-day moving average price of $7.14. NTN Buzztime has a one year low of $5.22 and a one year high of $12.00. The stock’s market cap is $19.10 million.
NTN Buzztime (NYSEMKT:NTN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.28. NTN Buzztime had a negative return on equity of 7.30% and a negative net margin of 1.72%. The firm had revenue of $5.55 million during the quarter, compared to analysts’ expectations of $5.74 million. Equities research analysts expect that NTN Buzztime will post ($0.46) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in NTN Buzztime by 20.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,129 shares of the company’s stock valued at $214,000 after buying an additional 4,300 shares in the last quarter. North Star Investment Management Corp. raised its position in NTN Buzztime by 23.8% in the second quarter. North Star Investment Management Corp. now owns 247,697 shares of the company’s stock valued at $1,684,000 after buying an additional 47,697 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in NTN Buzztime during the first quarter valued at approximately $775,000.
About NTN Buzztime
NTN Buzztime, Inc, formerly Alroy Industries, delivers entertainment and dining technology to bars and restaurants in North America. The Company provides an entertainment and marketing services platform for hospitality venues that offers games, events, and entertainment experiences to their customers.
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