OMERS ADMINISTRATION Corp Has $502,000 Holdings in Inseego $INSG

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Inseego by 205.5% in Q1, acquiring an additional 41,300 shares to hold a total of 61,400 shares valued at approximately $502,000.
• Inseego's stock price fluctuated between $6.24 and $20.67 over the past year, currently trading at $12.94 with a market cap of $194.62 million.
• Insider buying has been significant, with 55,001 shares purchased by insiders last quarter, representing a 20.90% ownership of the company's stock.

OMERS ADMINISTRATION Corp raised its holdings in Inseego (NASDAQ:INSG - Free Report) by 205.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,400 shares of the technology company's stock after purchasing an additional 41,300 shares during the period. OMERS ADMINISTRATION Corp owned about 0.41% of Inseego worth $502,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in INSG. Mackenzie Financial Corp increased its position in Inseego by 16.8% in the first quarter. Mackenzie Financial Corp now owns 12,659 shares of the technology company's stock worth $103,000 after buying an additional 1,825 shares during the period. Northern Trust Corp grew its stake in shares of Inseego by 9.2% in the fourth 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% in the fourth quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company's stock worth $51,000 after purchasing an additional 3,549 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Inseego by 2,862.7% in the fourth quarter. Lazard Asset Management LLC now owns 5,244 shares of the technology company's stock worth $53,000 after purchasing an additional 5,067 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Inseego by 655.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company's stock worth $83,000 after purchasing an additional 7,010 shares in the last quarter. 34.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Inseego from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Inseego currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Inseego Stock Up 3.4%

Shares of INSG traded up $0.43 during midday trading on Friday, reaching $13.24. 217,324 shares of the stock were exchanged, compared to its average volume of 374,071. The firm has a 50 day simple moving average of $8.85 and a 200-day simple moving average of $8.57. Inseego has a 12-month low of $6.24 and a 12-month high of $20.67. The company has a market cap of $199.13 million, a price-to-earnings ratio of -37.83, a P/E/G ratio of 1.61 and a beta of 1.25.

Insider Transactions at Inseego

In other Inseego news, Director Sound Trading Lp North bought 15,100 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $8.93 per share, with a total value of $134,843.00. Following the acquisition, the director directly owned 2,143,769 shares of the company's stock, valued at $19,143,857.17. This represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 55,001 shares of company stock valued at $479,591. Company insiders own 20.90% of the company's stock.

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.