Inspired Entertainment, Inc. $INSE Shares Bought by Kanen Wealth Management LLC

Key Points

• Kanen Wealth Management LLC increased its stake in Inspired Entertainment, Inc. by 19.1%, becoming the company's 5th largest shareholder with a total of 2,389,007 shares valued at approximately $19.5 million.
• Despite the increase in institutional ownership, shares of Inspired Entertainment were recently downgraded by several analysts, with Wall Street Zen changing its rating from "buy" to "hold" and an average target price of $14.00.
• Inspired Entertainment reported a loss of ($0.19) earnings per share in its latest quarter, which fell short of analyst expectations, although its revenue of $80.3 million exceeded estimates of $75.23 million.

Kanen Wealth Management LLC boosted its stake in shares of Inspired Entertainment, Inc. (NASDAQ:INSE - Free Report) by 19.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,389,007 shares of the company's stock after acquiring an additional 382,990 shares during the period. Inspired Entertainment comprises about 7.4% of Kanen Wealth Management LLC's holdings, making the stock its 5th biggest holding. Kanen Wealth Management LLC owned 8.88% of Inspired Entertainment worth $19,518,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Krilogy Financial LLC acquired a new position in Inspired Entertainment during the second quarter worth $245,000. Jane Street Group LLC acquired a new stake in shares of Inspired Entertainment in the first quarter valued at about $123,000. Gamco Investors INC. ET AL raised its position in shares of Inspired Entertainment by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 289,900 shares of the company's stock valued at $2,476,000 after buying an additional 3,000 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Inspired Entertainment by 4.1% in the first quarter. Gabelli Funds LLC now owns 153,000 shares of the company's stock valued at $1,307,000 after buying an additional 6,000 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Inspired Entertainment by 28.7% in the first quarter. MetLife Investment Management LLC now owns 12,341 shares of the company's stock valued at $105,000 after buying an additional 2,751 shares during the last quarter. 77.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on INSE. Wall Street Zen cut shares of Inspired Entertainment from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Zacks Research upgraded shares of Inspired Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Macquarie reiterated a "neutral" rating and issued a $10.00 target price on shares of Inspired Entertainment in a research report on Thursday, August 7th. Finally, BWS Financial reiterated a "buy" rating and issued a $20.00 target price on shares of Inspired Entertainment in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $14.00.

Inspired Entertainment Stock Performance

Shares of INSE opened at $9.61 on Tuesday. The stock has a market capitalization of $258.70 million, a PE ratio of 4.41 and a beta of 1.64. Inspired Entertainment, Inc. has a 1 year low of $6.51 and a 1 year high of $11.61. The company's 50-day simple moving average is $9.05 and its 200-day simple moving average is $8.36.

Inspired Entertainment (NASDAQ:INSE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.17). The business had revenue of $80.30 million for the quarter, compared to analyst estimates of $75.23 million. Inspired Entertainment had a negative return on equity of 281.67% and a net margin of 21.05%. On average, sell-side analysts predict that Inspired Entertainment, Inc. will post 0.3 earnings per share for the current 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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