Notable News to Focus: NTN Buzztime (NYSE:NTN)

NTN Buzztime (NYSE:NTN) changed -3.81% to recent value of $2.27. The stock transacted 484 shares during most recent day however it has an average volume of 4.27K shares. It spotted trading -48.41% off 52-week high price. On the other end, the stock has been noted 10.73% away from the low price over the last 52-weeks.

On Jan. 14, 2020, NTN Buzztime (NYSE American:NTN) signed a definitive agreement to sell all of its assets related to its Stump! Trivia hosted events business to Sporcle for $1.4 million.

CEO Allen Wolff said, In 2020, we are continuing our strategy to build scale of our core trivia entertainment product through digital content and hardware solutions. As such, we capitalized on the opportunity to monetize our hosted-events and divest from that ancillary business. We are pleased with our progress in narrowing our focus further as we expand efforts into our mobile app, lighter product offering and expansion into programmatic ad networks that together form the foundation for our long term growth. We intend to use the proceeds from the sale for operations and investment in these growth strategies.  Looking ahead in 2020, we are excited about the traction we have been gaining with this focus and vision.

Stump! Trivia, a live hosted knowledge-based event played in bars and restaurants, provides fun and exciting competitions by conducting approximately 400 events a week, the majority of which are in the Boston, MA region. The sale is expected to close by January 31, 2020. The company took additional steps to reduce head count and expects to be approximately 60 full time employees when the transaction closes.

NTN has a gross margin of 67.90% and an operating margin of -2.00% while its profit margin remained -3.50% for the last 12 months. Its earnings per share (EPS) expected to touch remained -103.20% for this year while earning per share for the next 5-years is expected to reach at 20.00%.

The company has 2.80M of outstanding shares and 1.85M shares were floated in the market. According to the most recent quarter its current ratio was 1.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.96% from the mean of 20 days, -13.39% from mean of 50 days SMA and performed -27.72% from mean of 200 days price. Company’s performance for the week was -2.99%, -14.02% for month and YTD performance remained 3.18%.

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