Renaissance Technologies LLC Purchases 78,495 Shares of Inseego Corp. (NASDAQ:INSG)

Renaissance Technologies LLC grew its stake in shares of Inseego Corp. (NASDAQ:INSG - Free Report) by 199.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,941 shares of the technology company's stock after purchasing an additional 78,495 shares during the quarter. Renaissance Technologies LLC owned about 0.79% of Inseego worth $1,210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Barclays PLC grew its holdings 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 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. Arrowstreet Capital Limited Partnership increased its holdings 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 acquiring an additional 5,992 shares during the last quarter. Wells Fargo & Company MN raised its stake in Inseego by 655.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,080 shares of the technology company's stock valued at $83,000 after acquiring an additional 7,010 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Inseego by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company's stock valued at $1,704,000 after purchasing an additional 7,325 shares during the last quarter. Institutional investors own 34.20% of the company's stock.

Analyst Ratings Changes

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

Inseego Price Performance

INSG traded down $0.05 during trading on Monday, hitting $8.19. The stock had a trading volume of 9,542 shares, compared to its average volume of 196,386. The firm has a market cap of $122.88 million, a price-to-earnings ratio of -13.21 and a beta of 1.79. The company has a 50 day moving average price of $8.52 and a 200-day moving average price of $11.40. Inseego Corp. has a one year low of $3.64 and a one year high of $20.67.

Inseego (NASDAQ:INSG - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). Inseego had a net margin of 2.22% and a negative return on equity of 4.08%. The business had revenue of $48.09 million during the quarter, compared to analyst estimates of $45.56 million. As a group, sell-side analysts predict that Inseego Corp. will post -0.06 EPS 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.