683 Capital Management LLC Sells 85,000 Shares of Inspired Entertainment, Inc. (NASDAQ:INSE)

683 Capital Management LLC lessened its position in Inspired Entertainment, Inc. (NASDAQ:INSE - Free Report) by 4.8% in the 4th quarter, according to its most recent 13F filing 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 quarter. Inspired Entertainment accounts for 1.0% of 683 Capital Management LLC's portfolio, making the stock its 17th largest position. 683 Capital Management LLC owned about 6.40% of Inspired Entertainment worth $15,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in Inspired Entertainment by 51.0% during the 4th quarter. Wells Fargo & Company MN now owns 10,350 shares of the company's stock valued at $94,000 after buying an additional 3,494 shares in the last quarter. Oxford Asset Management LLP purchased a new stake in shares of Inspired Entertainment in the 4th quarter worth $96,000. SG Americas Securities LLC bought a new position in shares of Inspired Entertainment during the 4th quarter worth $97,000. Clarus Group Inc. raised its holdings in shares of Inspired Entertainment by 12.0% in the fourth quarter. Clarus Group Inc. now owns 14,019 shares of the company's stock valued at $127,000 after acquiring an additional 1,500 shares in the last quarter. Finally, LPL Financial LLC bought a new position in Inspired Entertainment during the 4th quarter worth about $136,000. 77.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INSE has been the topic of several recent analyst reports. New Street Research set a $21.00 price objective on shares of Inspired Entertainment in a report on Friday, March 14th. B. Riley assumed coverage on Inspired Entertainment in a research note on Tuesday, April 8th. They issued a "buy" rating and a $13.00 price objective for the company. Truist Financial lowered their target price on Inspired Entertainment from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler cut their price target 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. Finally, JMP Securities decreased their price objective on shares of Inspired Entertainment from $14.00 to $13.00 and set a "market outperform" rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Inspired Entertainment currently has a consensus rating of "Buy" and an average price target of $13.17.

Inspired Entertainment Price Performance

Shares of NASDAQ INSE opened at $7.31 on Friday. The business has a 50-day moving average of $8.35 and a 200-day moving average of $9.19. Inspired Entertainment, Inc. has a 1-year low of $6.51 and a 1-year high of $11.61. The company has a market capitalization of $196.68 million, a price-to-earnings ratio of -730.27 and a beta of 1.27.

Inspired Entertainment (NASDAQ:INSE - Get Free Report) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.16 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. Research analysts expect that Inspired Entertainment, Inc. will post 0.3 EPS for the current fiscal year.

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.

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