Inspired Entertainment, Inc. (NASDAQ:INSE) Short Interest Down 29.6% in March

Inspired Entertainment, Inc. (NASDAQ:INSE – Get Rating) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 165,400 shares, a decrease of 29.6% from the March 15th total of 234,900 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 154,700 shares, the short-interest ratio is currently 1.1 days.

INSE stock traded up $0.03 during midday trading on Friday, hitting $10.68. The company had a trading volume of 139,935 shares, compared to its average volume of 236,522. Inspired Entertainment has a 52 week low of $7.40 and a 52 week high of $15.81. The stock’s 50 day moving average price is $13.05 and its 200 day moving average price is $12.97. The stock has a market cap of $287.19 million, a price-to-earnings ratio of -4.40 and a beta of 1.38.

Inspired Entertainment (NASDAQ:INSE – Get Rating) last announced its earnings results on Friday, March 11th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.10). During the same quarter in the prior year, the company posted $0.49 earnings per share. Equities research analysts predict that Inspired Entertainment will post 0.53 EPS for the current year.

Separately, Zacks Investment Research raised Inspired Entertainment from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, March 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inspired Entertainment currently has an average rating of “Buy” and an average price target of $18.50.

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in Inspired Entertainment by 4.4% in the third quarter. Russell Investments Group Ltd. now owns 1,095,402 shares of the company’s stock worth $12,814,000 after purchasing an additional 45,725 shares in the last quarter. Cowen Prime Advisors LLC grew its stake in shares of Inspired Entertainment by 374.0% in the third quarter. Cowen Prime Advisors LLC now owns 237,000 shares of the company’s stock worth $2,773,000 after acquiring an additional 187,000 shares during the last quarter. DG Capital Management LLC grew its stake in shares of Inspired Entertainment by 44.4% in the third quarter. DG Capital Management LLC now owns 1,580,788 shares of the company’s stock worth $18,495,000 after acquiring an additional 486,322 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Inspired Entertainment in the third quarter worth $34,000. Finally, Cannell Capital LLC boosted its position in shares of Inspired Entertainment by 85.2% during the third quarter. Cannell Capital LLC now owns 1,379,786 shares of the company’s stock valued at $16,143,000 after buying an additional 634,921 shares during the last quarter. Institutional investors and hedge funds own 97.10% of the company’s stock.

About Inspired Entertainment (Get Rating)

Inspired Entertainment, Inc, a business-to-business gaming technology company, supplies content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide. The company operates through four segments: Gaming, Virtual Sports, Interactive, and Leisure. The Gaming segment supplies gaming terminals and software to betting offices, casinos, gaming halls, and high street adult gaming centers; a portfolio of games through its digital terminals under the Centurion and Super Hot Fruits names; and traditional casino games, such as roulette, blackjack, and number games.

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