Kestra Advisory Services LLC Makes New $138,000 Investment in Inseego Corp. (NASDAQ:INSG)

Kestra Advisory Services LLC purchased a new position in shares of Inseego Corp. (NASDAQ:INSG – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,084 shares of the technology company’s stock, valued at approximately $138,000.

A number of other institutional investors have also recently bought and sold shares of the business. Penserra Capital Management LLC boosted its stake in Inseego by 68.7% during the fourth quarter. Penserra Capital Management LLC now owns 1,064,042 shares of the technology company’s stock worth $6,203,000 after buying an additional 433,156 shares in the last quarter. Northern Trust Corp boosted its stake in Inseego by 0.7% during the fourth quarter. Northern Trust Corp now owns 799,550 shares of the technology company’s stock worth $4,661,000 after buying an additional 5,177 shares in the last quarter. Potomac Capital Management Inc. acquired a new stake in Inseego during the fourth quarter worth $694,000. BNP Paribas Arbitrage SA boosted its stake in Inseego by 54.2% during the fourth quarter. BNP Paribas Arbitrage SA now owns 109,531 shares of the technology company’s stock worth $639,000 after buying an additional 38,487 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Inseego by 22.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 70,202 shares of the technology company’s stock worth $409,000 after buying an additional 12,755 shares in the last quarter. Institutional investors and hedge funds own 47.75% of the company’s stock.

Inseego Stock Performance

Shares of NASDAQ INSG opened at $2.01 on Wednesday. The stock has a market cap of $216.33 million, a PE ratio of -3.47 and a beta of 1.69. The business has a fifty day moving average of $2.04 and a two-hundred day moving average of $3.30. Inseego Corp. has a 52-week low of $1.74 and a 52-week high of $9.61.

Inseego (NASDAQ:INSG – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The technology company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The business had revenue of $61.38 million during the quarter, compared to the consensus estimate of $62.64 million. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) earnings per share. Analysts predict that Inseego Corp. will post -0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus assumed coverage on Inseego in a report on Friday, May 13th. They set a “hold” rating for the company.

Inseego Profile

(Get Rating)

Inseego Corp. engages in the design and development of fixed and mobile wireless solutions, industrial Internet of Things (IIoT), and cloud solutions for large enterprise verticals, service providers, small and medium-sized businesses, governments, and consumers worldwide. The company provides wireless 4G and 5G hardware products, including private LTE/5G networks, First responders network authority/Firstnet, SD-WAN, telematics, remote monitoring and surveillance, and fixed wireless access and mobile broadband devices.