Vident Investment Advisory LLC Raises Stock Position in Inseego Corp. (NASDAQ:INSG)

Vident Investment Advisory LLC raised its stake in Inseego Corp. (NASDAQ:INSG) by 241.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,634 shares of the technology company’s stock after buying an additional 69,762 shares during the period. Vident Investment Advisory LLC owned approximately 0.10% of Inseego worth $995,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its holdings in Inseego by 103.8% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 2,650 shares of the technology company’s stock valued at $27,000 after buying an additional 1,350 shares in the last quarter. SRS Capital Advisors Inc. purchased a new position in shares of Inseego during the 2nd quarter worth approximately $71,000. Bank of Montreal Can increased its stake in shares of Inseego by 131.0% during the 1st quarter. Bank of Montreal Can now owns 9,590 shares of the technology company’s stock worth $90,000 after purchasing an additional 40,491 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Inseego during the 1st quarter worth approximately $100,000. Finally, Smith Anglin Financial LLC purchased a new position in shares of Inseego during the 2nd quarter worth approximately $107,000. 45.85% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on INSG shares. Zacks Investment Research cut shares of Inseego from a “hold” rating to a “sell” rating in a research note on Tuesday, August 3rd. Roth Capital dropped their price objective on shares of Inseego from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.30.

Shares of NASDAQ INSG opened at $6.53 on Thursday. Inseego Corp. has a 1 year low of $6.28 and a 1 year high of $21.93. The firm’s 50 day moving average price is $7.83 and its 200 day moving average price is $8.65. The firm has a market cap of $673.77 million, a P/E ratio of -12.56 and a beta of 1.62.

Inseego (NASDAQ:INSG) last announced its earnings results on Wednesday, August 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The firm had revenue of $65.69 million for the quarter, compared to analyst estimates of $57.81 million. During the same quarter last year, the business posted ($0.01) EPS. The firm’s revenue was down 18.6% compared to the same quarter last year. Analysts anticipate that Inseego Corp. will post -0.49 EPS for the current fiscal year.

About Inseego

Inseego Corp. engages in the business of communications equipment. The firm’s products include mobile hotspots, industrial gateways and routers, home and enterprise routers, industrial USB modems, and telematics and mobile tracking hardware devices. Its SaaS platforms include Ctrack, an asset tracking and management solution that delivers business intelligence for fleets used in various verticals, including aviation, construction, government, and transport; and Device Management Solutions, a hosted subscription management platform.

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Institutional Ownership by Quarter for Inseego (NASDAQ:INSG)

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