Inseego Corp. (NASDAQ:INSG) Stock Position Lessened by Aviva Holdings Ltd.

Aviva Holdings Ltd. trimmed its holdings in shares of Inseego Corp. (NASDAQ:INSG - Free Report) by 92.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,001,050 shares of the technology company's stock after selling 23,758,264 shares during the period. Inseego comprises approximately 100.0% of Aviva Holdings Ltd.'s holdings, making the stock its biggest holding. Aviva Holdings Ltd. owned 13.38% of Inseego worth $20,531,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Barclays PLC increased its position in Inseego by 71.3% during the third quarter. Barclays PLC now owns 4,051 shares of the technology company's stock worth $67,000 after buying an additional 1,686 shares in the last quarter. Northern Trust Corp increased its position 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 raised its stake in 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 purchasing an additional 3,549 shares during the last quarter. Quantbot Technologies LP purchased a new position in Inseego in the 4th quarter valued at about $60,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Inseego by 3.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 158,673 shares of the technology company's stock worth $1,628,000 after purchasing an additional 5,992 shares during the last quarter. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Inseego Stock Up 0.1 %

Shares of INSG opened at $8.24 on Friday. Inseego Corp. has a fifty-two week low of $3.64 and a fifty-two week high of $20.67. The company's fifty day moving average is $8.52 and its two-hundred day moving average is $11.46. The firm has a market cap of $123.65 million, a PE ratio of -13.29 and a beta of 1.79.

Inseego (NASDAQ:INSG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). The firm had revenue of $48.09 million for the quarter, compared to analysts' expectations of $45.56 million. Inseego had a net margin of 2.22% and a negative return on equity of 4.08%. As a group, equities research analysts anticipate that Inseego Corp. will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reduced their price objective on shares of Inseego from $11.00 to $8.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th.

About Inseego

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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