Inspired Entertainment, Inc. (NASDAQ:INSE) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Posted by on May 30th, 2023

Mirae Asset Global Investments Co. Ltd. reduced its holdings in Inspired Entertainment, Inc. (NASDAQ:INSE – Get Rating) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,783 shares of the company’s stock after selling 3,812 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.31% of Inspired Entertainment worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Inspired Entertainment in the third quarter valued at $30,000. Royal Bank of Canada grew its position in Inspired Entertainment by 208.0% during the first quarter. Royal Bank of Canada now owns 3,588 shares of the company’s stock valued at $44,000 after acquiring an additional 2,423 shares during the period. UBS Group AG purchased a new stake in Inspired Entertainment during the third quarter valued at about $40,000. Hillsdale Investment Management Inc. purchased a new stake in Inspired Entertainment during the third quarter valued at about $76,000. Finally, Bank of New York Mellon Corp purchased a new stake in Inspired Entertainment during the first quarter valued at about $123,000. 96.61% of the stock is currently owned by institutional investors and hedge funds.

Inspired Entertainment Price Performance

Shares of NASDAQ INSE opened at $13.88 on Tuesday. Inspired Entertainment, Inc. has a 1-year low of $7.49 and a 1-year high of $16.44. The business has a 50-day moving average of $12.89 and a 200-day moving average of $13.45. The company has a market capitalization of $364.59 million, a price-to-earnings ratio of 19.55 and a beta of 1.63.

Inspired Entertainment (NASDAQ:INSE – Get Rating) last issued its earnings results on Wednesday, May 10th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Inspired Entertainment had a negative return on equity of 43.27% and a net margin of 7.08%. The company had revenue of $66.00 million during the quarter, compared to the consensus estimate of $65.03 million. Research analysts expect that Inspired Entertainment, Inc. will post 1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

INSE has been the subject of a number of research reports. Roth Mkm boosted their price target on Inspired Entertainment from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, February 15th. JMP Securities boosted their price target on Inspired Entertainment from $18.00 to $19.00 and gave the company a “market outperform” rating in a research report on Monday, April 17th. Finally, 500.com reissued a “maintains” rating on shares of Inspired Entertainment in a research report on Thursday, May 11th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inspired Entertainment has an average rating of “Buy” and an average price target of $21.75.

Inspired Entertainment Company Profile

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Inspired Entertainment, Inc is a game technology company, which engages in the provision of gaming systems. It operates through the following segments: Gaming, Virtual Sports, Interactive, Leisure, and Corporate. The Gaming segment supplies gaming terminals as well as gaming software and games for the terminals.

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Institutional Ownership by Quarter for Inspired Entertainment (NASDAQ:INSE)

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