Thursday, March 26, 2009

Trinad Capital and NTN Buzztime

When I'm not talking NTN Buzztime games, I'm talking NTN Buzztime the business. And I just caught this item:

Activist hedge fund Trinad Capital has increased their position in NTN Buzztime (NTN) by additional 1 million shares, bringing the firms total position size to 8.6 million shares, equal to 15.6% of the company’s shares outstanding. NTN Buzztime distributes various interactive multi-player games, including trivia quiz shows, play-along sports programming, casino-style, and casual games to restaurants, sports bars, taverns, and pubs. The firm is profitable on a gross profit basis, but lost $0.12 cents per share last quarter.

The benefit of acquiring NTN Buzztime stock, however, needs to be examined. The post also notes that gives NTN a rating of D-.

The NTN Buzztime site provides a more complete listing of significant owners. As of this morning, the top owners were:

Trinad Advisors L.L.C. 8,649,893 15.5%
Fidelity National Financial Corporation 6,644,611 11.9%
Berg (Jeffrey Alan) 5,475,600 9.8%

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