Jacobs Levy Equity Management Inc. Invests $1.11 Million in Inseego Corp. (NASDAQ:INSG)

Jacobs Levy Equity Management Inc. bought a new position in shares of Inseego Corp. (NASDAQ:INSG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 108,558 shares of the technology company's stock, valued at approximately $1,114,000. Jacobs Levy Equity Management Inc. owned about 0.73% of Inseego at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Inseego by 71.3% in the third quarter. Barclays PLC now owns 4,051 shares of the technology company's stock valued at $67,000 after acquiring an additional 1,686 shares during the last quarter. Northern Trust Corp grew its holdings in shares of 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 during the period. BNP Paribas Financial Markets increased its position 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 purchasing an additional 3,549 shares during the last quarter. Quantbot Technologies LP acquired a new position in Inseego in the fourth quarter valued at about $60,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Inseego by 3.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 158,673 shares of the technology company's stock worth $1,628,000 after buying an additional 5,992 shares during the period. 34.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Inseego Stock Down 1.3%

INSG stock traded down $0.12 during midday trading on Tuesday, hitting $8.87. The company's stock had a trading volume of 157,830 shares, compared to its average volume of 189,502. The firm has a 50-day simple moving average of $8.16 and a 200-day simple moving average of $10.58. The firm has a market capitalization of $133.12 million, a P/E ratio of -14.31 and a beta of 1.15. Inseego Corp. has a 52-week low of $5.93 and a 52-week high of $20.67.

Inseego (NASDAQ:INSG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Inseego had a negative return on equity of 4.08% and a net margin of 2.22%. The company had revenue of $48.09 million for the quarter, compared to analysts' expectations of $45.56 million. On average, sell-side analysts expect that Inseego Corp. will post -0.06 earnings per share for the current fiscal year.

Inseego 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.