NTN Buzztime Inc (NYSEMKT:NTN) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of NTN Buzztime Inc (NYSEMKT:NTN) from a hold rating to a sell rating in a report released on Tuesday morning.

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. “

Several other analysts have also recently weighed in on NTN. Roth Capital set a $9.00 target price on shares of NTN Buzztime and gave the company a hold rating in a report on Tuesday, August 1st. ValuEngine raised shares of NTN Buzztime from a sell rating to a hold rating in a report on Friday, August 4th.

NTN Buzztime (NYSEMKT NTN) opened at 7.98 on Tuesday. The stock has a 50 day moving average of $6.63 and a 200-day moving average of $7.10. NTN Buzztime has a 12 month low of $5.38 and a 12 month high of $12.00. The stock’s market cap is $19.97 million.

NTN Buzztime (NYSEMKT:NTN) last issued its earnings results on Wednesday, August 2nd. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.28. The firm had revenue of $5.55 million for the quarter, compared to analysts’ expectations of $5.74 million. NTN Buzztime had a negative net margin of 1.72% and a negative return on equity of 7.30%. On average, equities analysts forecast that NTN Buzztime will post ($0.46) EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in NTN. Vanguard Group Inc. boosted its stake in NTN Buzztime by 25.7% in the second quarter. Vanguard Group Inc. now owns 17,610 shares of the company’s stock worth $120,000 after buying an additional 3,606 shares during the last quarter. Renaissance Technologies LLC boosted its stake in NTN Buzztime by 20.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,129 shares of the company’s stock worth $214,000 after buying an additional 4,300 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in NTN Buzztime during the first quarter worth $775,000. Finally, North Star Investment Management Corp. boosted its stake 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 worth $1,684,000 after buying an additional 47,697 shares during the last quarter.

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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