Marshall Wace LLP increased its stake in Inseego Corp. (NASDAQ:INSG - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 371,992 shares of the technology company's stock after acquiring an additional 61,623 shares during the quarter. Marshall Wace LLP owned about 2.49% of Inseego worth $3,817,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Inseego by 71.3% in the 3rd quarter. Barclays PLC now owns 4,051 shares of the technology company's stock valued at $67,000 after purchasing an additional 1,686 shares during the period. Quantbot Technologies LP bought a new position in shares of Inseego during the 4th quarter worth approximately $60,000. Wells Fargo & Company MN boosted its holdings in shares of Inseego by 655.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company's stock worth $83,000 after buying an additional 7,010 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of Inseego in the 4th quarter valued at $131,000. Finally, Diversify Advisory Services LLC acquired a new position in shares of Inseego during the 4th quarter valued at $142,000. 34.20% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, Stifel Nicolaus decreased their price target on shares of Inseego from $11.00 to $8.00 and set a "hold" rating for the company in a research note on Thursday, April 17th.
Check Out Our Latest Stock Report on INSG
Inseego Price Performance
Shares of NASDAQ:INSG traded up $0.28 during trading on Thursday, reaching $8.42. 14,689 shares of the stock were exchanged, compared to its average volume of 195,788. Inseego Corp. has a 1-year low of $3.59 and a 1-year high of $20.67. The stock has a fifty day moving average of $8.64 and a two-hundred day moving average of $11.66. The firm has a market cap of $126.37 million, a price-to-earnings ratio of -13.70 and a beta of 1.79.
Inseego (NASDAQ:INSG - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $48.09 million for the quarter, compared to analyst estimates of $45.56 million. Inseego had a negative return on equity of 4.08% and a net margin of 2.22%. Sell-side analysts forecast that Inseego Corp. will post -0.06 EPS for the current year.
About Inseego
(
Free Report)
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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