FNY Investment Advisers LLC acquired a new stake in Inseego Corp (NASDAQ:INSG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 98,800 shares of the technology company’s stock, valued at approximately $380,000. FNY Investment Advisers LLC owned about 0.14% of Inseego at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its stake in Inseego by 3.1% in the 2nd quarter. BlackRock Inc. now owns 1,047,118 shares of the technology company’s stock valued at $2,105,000 after acquiring an additional 31,469 shares during the last quarter. Renaissance Technologies LLC grew its stake in Inseego by 21.6% in the 2nd quarter. Renaissance Technologies LLC now owns 451,900 shares of the technology company’s stock valued at $908,000 after acquiring an additional 80,400 shares during the last quarter. Finally, Family Management Corp grew its stake in Inseego by 525.0% in the 2nd quarter. Family Management Corp now owns 262,502 shares of the technology company’s stock valued at $527,000 after acquiring an additional 220,502 shares during the last quarter. 6.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on INSG shares. Roth Capital started coverage on shares of Inseego in a research note on Friday, October 12th. They issued a “buy” rating and a $5.00 price objective on the stock. BidaskClub cut shares of Inseego from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Canaccord Genuity reissued a “buy” rating and issued a $5.00 price objective (up from $4.50) on shares of Inseego in a research note on Monday, September 17th. ValuEngine raised shares of Inseego from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Finally, Northland Securities increased their price objective on shares of Inseego from $3.00 to $4.50 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $4.25.
Inseego (NASDAQ:INSG) last released its quarterly earnings results on Tuesday, August 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). The firm had revenue of $49.06 million for the quarter, compared to analyst estimates of $46.44 million. Sell-side analysts predict that Inseego Corp will post -0.37 earnings per share for the current fiscal year.
Inseego Corp., together with its subsidiaries, provides software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. The company sells SaaS, software, and service solutions across multiple IoT vertical markets, including fleet management and vehicle telematics, aviation, usage-based insurance, stolen vehicle recovery, asset tracking and monitoring, business connectivity, and subscription management.
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