Inspired Entertainment (NASDAQ:INSE) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Inspired Entertainment, Inc. (NASDAQ:INSE) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.11 and traded as low as $5.87. Inspired Entertainment shares last traded at $5.90, with a volume of 1,372,104 shares traded.

Wall Street Analyst Weigh In

INSE has been the subject of a number of research reports. BWS Financial restated a “buy” rating and set a $20.00 target price on shares of Inspired Entertainment in a report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inspired Entertainment in a report on Monday, June 8th. Finally, Zacks Research downgraded Inspired Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Inspired Entertainment Trading Up 3.1%

The stock has a market cap of $160.27 million, a price-to-earnings ratio of -18.42 and a beta of 1.22. The company has a fifty day simple moving average of $7.07 and a 200-day simple moving average of $7.37.

Inspired Entertainment (NASDAQ:INSE) last announced its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Inspired Entertainment had a negative net margin of 3.34% and a negative return on equity of 30.08%. The company had revenue of $60.80 million during the quarter, compared to analysts’ expectations of $64.04 million. As a group, analysts anticipate that Inspired Entertainment, Inc. will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On Inspired Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Management Group Inc. lifted its holdings in shares of Inspired Entertainment by 0.8% in the second quarter. Private Management Group Inc. now owns 1,282,590 shares of the company’s stock valued at $10,581,000 after purchasing an additional 9,711 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Inspired Entertainment in the second quarter worth $188,000. Jupiter Topco LLC purchased a new position in shares of Inspired Entertainment during the second quarter valued at $11,047,000. Ancora Advisors LLC purchased a new position in shares of Inspired Entertainment during the second quarter valued at $1,330,000. Finally, JB Capital Partners LP acquired a new position in Inspired Entertainment during the second quarter valued at $536,250,000. 77.38% of the stock is currently owned by hedge funds and other institutional investors.

About Inspired Entertainment

Inspired Entertainment, Inc (NASDAQ: INSE) is a business-to-business provider of digital gaming content and technology solutions for the global gaming industry. The company’s offerings include server-based gaming modules, virtual sports simulations, digital interactive content and mobile sports betting platforms. Inspired designs proprietary games and software that integrate with lotteries, casino operators, retail betting shops and online platforms, emphasizing reliable performance, rapid deployment and engaging player experiences.

At the core of Inspired’s product suite is its Virtual Sports catalog, which simulates sporting events using advanced algorithms and randomized outcomes.