Inspired Entertainment (NASDAQ:INSE) Stock Price Target Lowered at B. Riley Financial

Key Points

• B. Riley cut its price target on Inspired Entertainment from $8.75 to $6.25 but maintained a Buy rating, implying 76.3% upside from the $3.54 share price. The broader analyst consensus is Hold, with an average target of $10.31.
• For the latest quarter, Inspired reported earnings per share of $0.10, beating the $0.02 consensus estimate, while revenue of $61.4 million came in below analysts’ $64.52 million forecast.
• The stock traded at $3.54, near its 52-week low of $3.10; institutional investors and hedge funds own 77.38% of its shares.

Inspired Entertainment (NASDAQ:INSE - Get Free Report) had its target price dropped by equities research analysts at B. Riley Financial from $8.75 to $6.25 in a note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's price target points to a potential upside of 76.30% from the stock's current price.

A number of other research analysts also recently issued reports on the stock. Citizens Jmp decreased their target price on shares of Inspired Entertainment from $9.00 to $7.00 and set a "market outperform" rating for the company in a research report on Friday. Truist Financial cut their price target on Inspired Entertainment from $12.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday, October 20th. Citigroup reaffirmed a "market outperform" rating on shares of Inspired Entertainment in a research report on Tuesday, October 13th. Zacks Research lowered Inspired Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Inspired Entertainment in a report on Friday, September 4th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Inspired Entertainment has an average rating of "Hold" and a consensus target price of $10.31.

Inspired Entertainment Trading Up 1.3%

NASDAQ INSE traded up $0.04 on Friday, hitting $3.54. 405,995 shares of the company's stock traded hands, compared to its average volume of 182,949. Inspired Entertainment has a 1-year low of $3.10 and a 1-year high of $9.95. The firm's 50-day moving average price is $4.21 and its two-hundred day moving average price is $6.63. The firm has a market capitalization of $93.45 million, a PE ratio of -10.61 and a beta of 1.16.

Inspired Entertainment (NASDAQ:INSE - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Inspired Entertainment had a negative net margin of 3.34% and a negative return on equity of 30.08%. The firm had revenue of $61.40 million for the quarter, compared to analyst estimates of $64.52 million. On average, research analysts anticipate that Inspired Entertainment will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inspired Entertainment

Several large investors have recently made changes to their positions in INSE. R Squared Ltd acquired a new stake in Inspired Entertainment during the third quarter valued at $79,000. Private Management Group Inc. increased its holdings in Inspired Entertainment by 1.2% in the third quarter. Private Management Group Inc. now owns 1,298,285 shares of the company's stock valued at $4,466,000 after buying an additional 15,695 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its position in shares of Inspired Entertainment by 60.5% in the third quarter. Prescott Group Capital Management L.L.C. now owns 574,750 shares of the company's stock worth $1,977,000 after acquiring an additional 216,558 shares during the period. Bank of America Corp DE acquired a new position in shares of Inspired Entertainment in the second quarter worth about $188,000. Finally, Jupiter Topco LLC acquired a new position in shares of Inspired Entertainment in the second quarter worth about $11,047,000. 77.38% of the stock is currently owned by institutional investors and hedge funds.

About Inspired Entertainment

Inspired Entertainment, Inc is a business-to-business gaming technology company that develops and supplies content, software, hardware and related services for regulated gaming, betting and leisure markets. Its customers include bookmakers, casinos, gaming operators, lotteries and other entertainment venues.

The company's offerings include gaming terminals and server-based gaming systems, digital casino games, virtual sports and other simulated sporting events, as well as interactive gaming solutions for online and mobile platforms.

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