Acadian Asset Management LLC Boosts Holdings in Inseego $INSG

Key Points

• Acadian Asset Management LLC increased its stake in Inseego by 48.6%, now owning 229,169 shares valued at approximately $1.87 million.
• Director Sound Trading Lp North bought 15,100 shares of Inseego at $8.93 per share, raising their ownership to over 2.14 million shares.
• Wall Street analysts have downgraded Inseego from a "buy" to a "hold" rating, with a consensus price target set at $13.00.

Acadian Asset Management LLC grew its stake in Inseego (NASDAQ:INSG - Free Report) by 48.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,169 shares of the technology company's stock after buying an additional 74,955 shares during the period. Acadian Asset Management LLC owned 1.53% of Inseego worth $1,870,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of INSG. BNP Paribas Financial Markets boosted its holdings in shares of Inseego by 258.1% in the 4th quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company's stock valued at $51,000 after buying an additional 3,549 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Inseego by 2,862.7% in the 4th quarter. Lazard Asset Management LLC now owns 5,244 shares of the technology company's stock valued at $53,000 after buying an additional 5,067 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Inseego by 16.8% in the 1st quarter. Mackenzie Financial Corp now owns 12,659 shares of the technology company's stock valued at $103,000 after buying an additional 1,825 shares in the last quarter. Graham Capital Management L.P. acquired a new position in shares of Inseego in the 4th quarter valued at $137,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Inseego by 23.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company's stock valued at $158,000 after buying an additional 3,685 shares in the last quarter. Institutional investors and hedge funds own 34.20% of the company's stock.

Insider Activity at Inseego

In other news, Director Sound Trading Lp North bought 15,100 shares of Inseego stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $8.93 per share, for a total transaction of $134,843.00. Following the purchase, the director owned 2,143,769 shares of the company's stock, valued at approximately $19,143,857.17. The trade was a 0.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have acquired 55,001 shares of company stock valued at $479,591. 20.90% of the stock is currently owned by company insiders.

Inseego Price Performance

Shares of Inseego stock traded up $0.37 during trading hours on Friday, hitting $13.41. The company had a trading volume of 418,969 shares, compared to its average volume of 302,624. The company's 50-day moving average is $9.81 and its two-hundred day moving average is $8.72. Inseego has a twelve month low of $6.24 and a twelve month high of $20.67. The company has a market cap of $201.69 million, a P/E ratio of -38.31, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25.

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.