Inseego $INSG Stock Holdings Lessened by AlphaQuest LLC

AlphaQuest LLC lessened its holdings in shares of Inseego (NASDAQ:INSG) by 75.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,442 shares of the technology company’s stock after selling 29,362 shares during the period. AlphaQuest LLC owned 0.06% of Inseego worth $78,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in Inseego by 48.6% in the first quarter. Acadian Asset Management LLC now owns 229,169 shares of the technology company’s stock valued at $1,870,000 after acquiring an additional 74,955 shares during the period. OMERS ADMINISTRATION Corp lifted its holdings in shares of Inseego by 205.5% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 61,400 shares of the technology company’s stock worth $502,000 after purchasing an additional 41,300 shares during the last quarter. Mackenzie Financial Corp boosted its position in Inseego by 16.8% during the 1st quarter. Mackenzie Financial Corp now owns 12,659 shares of the technology company’s stock valued at $103,000 after purchasing an additional 1,825 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its stake in Inseego by 23.6% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock worth $158,000 after buying an additional 3,685 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on INSG shares. Craig Hallum set a $20.00 target price on shares of Inseego and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Inseego in a report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $14.00 price objective on Inseego and gave the stock a “hold” rating in a report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

Insider Activity

In related news, Director Sound Trading Lp North bought 15,100 shares of Inseego stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $8.93 per share, with a total value of $134,843.00. Following the completion of the acquisition, the director directly owned 2,143,769 shares in the company, valued at approximately $19,143,857.17. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 55,001 shares of company stock worth $479,591 over the last quarter. 20.90% of the stock is owned by insiders.

Inseego Stock Performance

NASDAQ INSG opened at $14.40 on Thursday. Inseego has a 1 year low of $6.24 and a 1 year high of $19.75. The business’s fifty day moving average is $14.44 and its two-hundred day moving average is $10.29. The stock has a market capitalization of $219.07 million, a P/E ratio of -41.14 and a beta of 1.23.

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.