683 Capital Management LLC Reduces Stock Holdings in Inspired Entertainment, Inc. (NASDAQ:INSE)

683 Capital Management LLC reduced its holdings in shares of Inspired Entertainment, Inc. (NASDAQ:INSE - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,700,000 shares of the company's stock after selling 85,000 shares during the period. Inspired Entertainment comprises 1.0% of 683 Capital Management LLC's portfolio, making the stock its 17th largest holding. 683 Capital Management LLC owned 6.40% of Inspired Entertainment worth $15,385,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of Inspired Entertainment by 51.0% in the 4th quarter. Wells Fargo & Company MN now owns 10,350 shares of the company's stock worth $94,000 after purchasing an additional 3,494 shares in the last quarter. Oxford Asset Management LLP purchased a new stake in Inspired Entertainment in the fourth quarter worth about $96,000. SG Americas Securities LLC bought a new position in shares of Inspired Entertainment in the fourth quarter worth about $97,000. Clarus Group Inc. lifted its position in shares of Inspired Entertainment by 12.0% during the 4th quarter. Clarus Group Inc. now owns 14,019 shares of the company's stock valued at $127,000 after buying an additional 1,500 shares in the last quarter. Finally, LPL Financial LLC bought a new position in shares of Inspired Entertainment during the 4th quarter valued at approximately $136,000. 77.38% of the stock is currently owned by institutional investors.

Inspired Entertainment Stock Up 0.8 %

Inspired Entertainment stock traded up $0.06 during midday trading on Wednesday, reaching $7.57. 17,942 shares of the stock traded hands, compared to its average volume of 118,942. Inspired Entertainment, Inc. has a 12 month low of $6.51 and a 12 month high of $11.61. The stock's fifty day moving average is $8.15 and its 200-day moving average is $9.16. The stock has a market cap of $203.67 million, a P/E ratio of -756.34 and a beta of 1.66.

Inspired Entertainment (NASDAQ:INSE - Get Free Report) last posted its earnings results on Monday, March 17th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.13). The business had revenue of $83.00 million during the quarter, compared to analysts' expectations of $79.19 million. Inspired Entertainment had a negative net margin of 0.10% and a negative return on equity of 6.35%. On average, equities analysts predict that Inspired Entertainment, Inc. will post 0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on INSE shares. New Street Research set a $21.00 price target on shares of Inspired Entertainment in a report on Friday, March 14th. Truist Financial dropped their target price on shares of Inspired Entertainment from $13.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. B. Riley began coverage on Inspired Entertainment in a research report on Tuesday, April 8th. They issued a "buy" rating and a $13.00 price objective on the stock. JMP Securities cut their target price on 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, Piper Sandler lowered their price target on Inspired Entertainment from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. One equities 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. According to data from MarketBeat.com, Inspired Entertainment currently has a consensus rating of "Buy" and an average target price of $13.17.

About Inspired Entertainment

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.