Inspired Entertainment (NASDAQ:INSE) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Inspired Entertainment (NASDAQ:INSE) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

Several other analysts also recently issued reports on INSE. BWS Financial restated a “buy” rating and issued a $20.00 price target on shares of Inspired Entertainment in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d)” rating on shares of Inspired Entertainment in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Inspired Entertainment Stock Up 2.4%

Shares of INSE stock opened at $8.25 on Monday. The firm has a 50 day moving average price of $7.59 and a two-hundred day moving average price of $8.01. The company has a market capitalization of $220.03 million, a PE ratio of -13.52 and a beta of 1.22. Inspired Entertainment has a 12-month low of $6.10 and a 12-month high of $9.95.

Inspired Entertainment (NASDAQ:INSE) last posted its earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.13. The company had revenue of $57.20 million for the quarter, compared to the consensus estimate of $58.89 million. Inspired Entertainment had a negative return on equity of 1,176.67% and a negative net margin of 5.78%. As a group, research analysts expect that Inspired Entertainment will post 0.28 EPS for the current year.

Institutional Trading of Inspired Entertainment

A number of hedge funds have recently made changes to their positions in the company. Kanen Wealth Management LLC raised its holdings in Inspired Entertainment by 50.9% in the 1st quarter. Kanen Wealth Management LLC now owns 2,006,017 shares of the company’s stock valued at $18,929,000 after buying an additional 676,988 shares during the last quarter. Jane Street Group LLC acquired a new position in Inspired Entertainment in the 1st quarter valued at approximately $123,000. Geode Capital Management LLC increased its position in Inspired Entertainment by 8.9% in the 2nd quarter. Geode Capital Management LLC now owns 565,185 shares of the company’s stock valued at $4,619,000 after acquiring an additional 46,328 shares during the period. Rhumbline Advisers raised its stake in shares of Inspired Entertainment by 11.8% during the second quarter. Rhumbline Advisers now owns 35,915 shares of the company’s stock valued at $293,000 after acquiring an additional 3,794 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Inspired Entertainment by 28.3% during the second quarter. XTX Topco Ltd now owns 24,722 shares of the company’s stock valued at $202,000 after acquiring an additional 5,450 shares during the last quarter. 77.38% of the stock is owned by institutional investors and hedge funds.

Inspired Entertainment Company Profile

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.