Inspired Entertainment, Inc. (NASDAQ:INSE – Get Rating) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 278,500 shares, an increase of 50.4% from the April 30th total of 185,200 shares. Based on an average daily volume of 180,800 shares, the days-to-cover ratio is presently 1.5 days.
In related news, Director Michael R. Chambrello bought 10,000 shares of the stock in a transaction on Tuesday, May 24th. The stock was bought at an average price of $9.91 per share, with a total value of $99,100.00. Following the completion of the purchase, the director now directly owns 18,226 shares in the company, valued at approximately $180,619.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.27% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in Inspired Entertainment by 108.9% during the 2nd quarter. Morgan Stanley now owns 320,798 shares of the company’s stock worth $4,090,000 after purchasing an additional 167,213 shares during the period. Deutsche Bank AG acquired a new stake in Inspired Entertainment in the third quarter valued at approximately $34,000. Barclays PLC lifted its stake in Inspired Entertainment by 291.9% in the third quarter. Barclays PLC now owns 3,174 shares of the company’s stock worth $37,000 after acquiring an additional 2,364 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Inspired Entertainment by 55.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,443 shares of the company’s stock worth $227,000 after acquiring an additional 6,920 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Inspired Entertainment by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 145,057 shares of the company’s stock valued at $1,697,000 after purchasing an additional 8,893 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded Inspired Entertainment from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, March 8th.
Shares of NASDAQ INSE traded up $0.37 during midday trading on Friday, hitting $10.96. The company’s stock had a trading volume of 129,873 shares, compared to its average volume of 196,756. The firm has a market capitalization of $294.71 million, a price-to-earnings ratio of -6.68 and a beta of 1.47. The business’s fifty day simple moving average is $10.70 and its two-hundred day simple moving average is $12.33. Inspired Entertainment has a 1 year low of $8.27 and a 1 year high of $15.81.
Inspired Entertainment (NASDAQ:INSE – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.15. During the same quarter last year, the business earned ($0.69) EPS. As a group, equities analysts forecast that Inspired Entertainment will post 0.69 EPS for the current fiscal year.
About Inspired Entertainment (Get Rating)
Inspired Entertainment, Inc, a business-to-business gaming technology company, supplies content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide. The company operates through four segments: Gaming, Virtual Sports, Interactive, and Leisure. The Gaming segment supplies gaming terminals and software to betting offices, casinos, gaming halls, and high street adult gaming centers; a portfolio of games through its digital terminals under the Centurion and Super Hot Fruits names; and traditional casino games, such as roulette, blackjack, and number games.