Acadian Asset Management LLC Buys 74,955 Shares of Inseego $INSG

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

A number of other large investors have also bought and sold shares of the business. Mackenzie Financial Corp increased its stake in Inseego by 16.8% during the 1st quarter. Mackenzie Financial Corp now owns 12,659 shares of the technology company's stock worth $103,000 after purchasing an additional 1,825 shares in the last quarter. Northern Trust Corp increased its stake in Inseego by 9.2% during the 4th quarter. Northern Trust Corp now owns 21,962 shares of the technology company's stock worth $225,000 after purchasing an additional 1,854 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Inseego by 258.1% during the 4th quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company's stock worth $51,000 after acquiring an additional 3,549 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of 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 acquiring an additional 3,685 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Inseego by 2,862.7% during the 4th quarter. Lazard Asset Management LLC now owns 5,244 shares of the technology company's stock worth $53,000 after acquiring an additional 5,067 shares in the last quarter. 34.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Inseego

In other news, Director Sound Trading Lp North bought 15,100 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $8.93 per share, with a total value of $134,843.00. Following the completion of the acquisition, the director owned 2,143,769 shares of the company's stock, valued at $19,143,857.17. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired a total of 55,001 shares of company stock worth $479,591 over the last three months. 20.90% of the stock is currently owned by company insiders.

Inseego Price Performance

Shares of Inseego stock opened at $12.83 on Wednesday. The business has a fifty day simple moving average of $9.51 and a two-hundred day simple moving average of $8.64. Inseego has a 1 year low of $6.24 and a 1 year high of $20.67. The company has a market capitalization of $192.96 million, a price-to-earnings ratio of -36.66, a P/E/G ratio of 1.64 and a beta of 1.25.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Inseego from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.00.

Inseego Company 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.

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