Geode Capital Management LLC Sells 8,274 Shares of Inspired Entertainment, Inc. (NASDAQ:INSE)

Geode Capital Management LLC reduced its stake in Inspired Entertainment, Inc. (NASDAQ:INSE) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 513,177 shares of the company’s stock after selling 8,274 shares during the period. Geode Capital Management LLC owned about 1.93% of Inspired Entertainment worth $4,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in INSE. State Street Corp increased its holdings in shares of Inspired Entertainment by 0.7% during the third quarter. State Street Corp now owns 405,625 shares of the company’s stock worth $3,760,000 after buying an additional 2,675 shares in the last quarter. Barclays PLC raised its position in Inspired Entertainment by 314.1% in the third quarter. Barclays PLC now owns 31,321 shares of the company’s stock valued at $291,000 after purchasing an additional 23,757 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Inspired Entertainment by 4.4% during the third quarter. SkyView Investment Advisors LLC now owns 27,674 shares of the company’s stock valued at $257,000 after purchasing an additional 1,174 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Inspired Entertainment in the fourth quarter valued at approximately $97,000. Finally, Clarus Group Inc. boosted its position in Inspired Entertainment by 12.0% during the 4th quarter. Clarus Group Inc. now owns 14,019 shares of the company’s stock worth $127,000 after buying an additional 1,500 shares during the period. 77.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on INSE shares. New Street Research set a $21.00 price objective on shares of Inspired Entertainment in a research note on Friday, March 14th. Truist Financial lowered their price objective on Inspired Entertainment from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler cut their price objective on Inspired Entertainment from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday. JMP Securities decreased their target price on shares of Inspired Entertainment from $14.00 to $13.00 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. Finally, B. Riley started coverage on shares of Inspired Entertainment in a report on Tuesday, April 8th. They set a “buy” rating and a $13.00 price target for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $13.17.

Inspired Entertainment Stock Performance

Inspired Entertainment stock opened at $7.32 on Friday. The stock has a market capitalization of $196.94 million, a price-to-earnings ratio of -731.27 and a beta of 1.27. Inspired Entertainment, Inc. has a 52-week low of $6.51 and a 52-week high of $11.61. The stock’s 50 day moving average price is $8.64 and its two-hundred day moving average price is $9.24.

Inspired Entertainment (NASDAQ:INSE) last issued its earnings results on Monday, March 17th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.13). Inspired Entertainment had a negative return on equity of 6.35% and a negative net margin of 0.10%. The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $79.19 million. On average, equities research analysts forecast that Inspired Entertainment, Inc. will post 0.3 EPS for the current year.

Inspired Entertainment Company Profile

Inspired Entertainment, Inc, a gaming technology company, engages in the supply of content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide. It operates in 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.