Kanen Wealth Management LLC increased its stake in Inspired Entertainment, Inc. (NASDAQ:INSE - Free Report) by 50.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,006,017 shares of the company's stock after purchasing an additional 676,988 shares during the period. Inspired Entertainment makes up 7.6% of Kanen Wealth Management LLC's holdings, making the stock its 6th largest position. Kanen Wealth Management LLC owned approximately 7.46% of Inspired Entertainment worth $18,929,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the company. Primoris Wealth Advisors LLC bought a new stake in shares of Inspired Entertainment in the fourth quarter valued at about $986,000. Renaissance Technologies LLC raised its position in Inspired Entertainment by 193.2% in the 4th quarter. Renaissance Technologies LLC now owns 95,000 shares of the company's stock valued at $860,000 after buying an additional 62,600 shares during the last quarter. Foundry Partners LLC lifted its stake in Inspired Entertainment by 10.3% in the 4th quarter. Foundry Partners LLC now owns 583,775 shares of the company's stock valued at $5,283,000 after acquiring an additional 54,395 shares in the last quarter. Ancora Advisors LLC boosted its position in Inspired Entertainment by 98.2% during the 4th quarter. Ancora Advisors LLC now owns 89,660 shares of the company's stock worth $811,000 after acquiring an additional 44,430 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Inspired Entertainment during the 4th quarter worth approximately $380,000. Institutional investors own 77.38% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on INSE shares. New Street Research set a $21.00 price objective on shares of Inspired Entertainment in a research report on Friday, March 14th. JMP Securities decreased their price target on Inspired Entertainment from $13.00 to $12.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Piper Sandler dropped their price objective on Inspired Entertainment from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial cut their price objective on Inspired Entertainment from $13.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, B. Riley initiated coverage on shares of Inspired Entertainment in a report on Tuesday, April 8th. They set a "buy" rating and a $13.00 target price on the stock. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $13.00.
Check Out Our Latest Stock Report on Inspired Entertainment
Inspired Entertainment Price Performance
NASDAQ INSE traded up $0.09 during trading on Tuesday, reaching $8.07. 110,114 shares of the company's stock were exchanged, compared to its average volume of 117,905. The business has a 50 day moving average price of $7.68 and a 200-day moving average price of $8.85. The stock has a market capitalization of $217.12 million, a P/E ratio of -806.19 and a beta of 1.65. Inspired Entertainment, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $11.61.
Inspired Entertainment (NASDAQ:INSE - Get Free Report) last issued its 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 business had revenue of $83.00 million for the quarter, compared to the consensus estimate of $79.19 million. On average, analysts forecast that Inspired Entertainment, Inc. will post 0.3 earnings per share for the current year.
About Inspired Entertainment
(
Free Report)
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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