iPic Entertainment (NASDAQ:IPIC) Rating Lowered to Sell at Alliance Global Partners

Alliance Global Partners downgraded shares of iPic Entertainment (NASDAQ:IPIC) from a neutral rating to a sell rating in a research note released on Monday morning, The Fly reports.

Other equities analysts also recently issued research reports about the company. Telsey Advisory Group downgraded iPic Entertainment from a market perform rating to an underperform rating in a research report on Monday, July 29th. ValuEngine raised iPic Entertainment from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised iPic Entertainment from a sell rating to a hold rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $8.00.

Shares of NASDAQ IPIC opened at $0.76 on Monday. The stock’s 50 day simple moving average is $2.76. iPic Entertainment has a twelve month low of $0.58 and a twelve month high of $10.45.

iPic Entertainment (NASDAQ:IPIC) last announced its quarterly earnings results on Monday, May 20th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.18). The business had revenue of $30.24 million during the quarter, compared to analysts’ expectations of $34.91 million.

An institutional investor recently bought a new position in iPic Entertainment stock. Retirement Systems of Alabama bought a new position in shares of iPic Entertainment Inc (NASDAQ:IPIC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,801,433 shares of the company’s stock, valued at approximately $10,393,000. Retirement Systems of Alabama owned about 24.42% of iPic Entertainment at the end of the most recent reporting period. Institutional investors own 24.56% of the company’s stock.

iPic Entertainment Company Profile

iPic Entertainment Inc operates restaurants and theaters in the United States. The company operates casual restaurants, farm-to-glass full-service bars, and theater auditoriums with in-theater dining. It operates restaurants under the City Perch Kitchen + Bar, Tanzy, The Tuck Room, The Tuck Room Tavern, and iPic Express brands.

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