Northern Trust Corp Has $225,000 Position in Inseego Corp. (NASDAQ:INSG)

Northern Trust Corp grew its stake in Inseego Corp. (NASDAQ:INSG) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,962 shares of the technology company’s stock after acquiring an additional 1,854 shares during the quarter. Northern Trust Corp owned 0.15% of Inseego worth $225,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. WINTON GROUP Ltd bought a new position in Inseego during the fourth quarter worth about $1,025,000. Renaissance Technologies LLC lifted its holdings in shares of Inseego by 199.0% during the 4th quarter. Renaissance Technologies LLC now owns 117,941 shares of the technology company’s stock valued at $1,210,000 after purchasing an additional 78,495 shares in the last quarter. Marshall Wace LLP grew its position in shares of Inseego by 19.9% in the 4th quarter. Marshall Wace LLP now owns 371,992 shares of the technology company’s stock valued at $3,817,000 after purchasing an additional 61,623 shares during the period. Geode Capital Management LLC increased its stake in Inseego by 19.0% during the 4th quarter. Geode Capital Management LLC now owns 124,121 shares of the technology company’s stock worth $1,274,000 after purchasing an additional 19,817 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Inseego during the 4th quarter worth approximately $193,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INSG shares. Wall Street Zen lowered shares of Inseego from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Stifel Nicolaus reduced their target price on shares of Inseego from $11.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Inseego has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Inseego Price Performance

Inseego stock opened at $7.37 on Tuesday. The company’s 50-day moving average is $7.88 and its 200-day moving average is $10.04. The firm has a market capitalization of $110.61 million, a PE ratio of -11.89 and a beta of 1.15. Inseego Corp. has a fifty-two week low of $6.24 and a fifty-two week high of $20.67.

Inseego Profile

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.