Inseego Corp. (NASDAQ:INSG) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its holdings in shares of Inseego Corp. (NASDAQ:INSG) by 2,862.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,244 shares of the technology company’s stock after buying an additional 5,067 shares during the period. Lazard Asset Management LLC’s holdings in Inseego were worth $53,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets raised its position in Inseego by 258.1% in the fourth quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company’s stock worth $51,000 after acquiring an additional 3,549 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Inseego during the 4th quarter worth $60,000. Wells Fargo & Company MN increased its holdings in shares of Inseego by 655.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company’s stock valued at $83,000 after purchasing an additional 7,010 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Inseego in the 4th quarter valued at about $112,000. Finally, Algert Global LLC acquired a new stake in shares of Inseego in the fourth quarter valued at about $127,000. 34.20% of the stock is owned by institutional investors and hedge funds.

Inseego Trading Down 1.2%

Shares of NASDAQ INSG opened at $8.14 on Monday. The company’s 50-day moving average price is $8.08 and its 200 day moving average price is $10.34. The stock has a market cap of $122.17 million, a price-to-earnings ratio of -13.13 and a beta of 1.15. Inseego Corp. has a 52 week low of $6.24 and a 52 week high of $20.67.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INSG. Wall Street Zen lowered shares of Inseego from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus dropped their price objective on Inseego from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

About Inseego

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.