Inspired Entertainment (NASDAQ:INSE) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Inspired Entertainment, Inc. (NASDAQ:INSE) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 trading hands.

Analysts Set New Price Targets

Several brokerages have commented on INSE. Zacks Research downgraded shares of Inspired Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. BWS Financial reissued a “buy” rating and set a $20.00 price objective on shares of Inspired Entertainment in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Inspired Entertainment in a report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Inspired Entertainment Stock Down 2.3%

The firm has a market capitalization of $155.52 million, a P/E ratio of -17.88 and a beta of 1.22. The stock has a fifty day moving average of $7.11 and a 200-day moving average of $7.38.

Inspired Entertainment (NASDAQ:INSE) last announced its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $60.80 million for the quarter, compared to analyst estimates of $64.04 million. Inspired Entertainment had a negative return on equity of 30.08% and a negative net margin of 3.34%. Sell-side analysts predict that Inspired Entertainment, Inc. will post 0.2 EPS for the current fiscal year.

Institutional Trading of Inspired Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Inspired Entertainment during the second quarter worth about $19,175,000. Jupiter Topco LLC bought a new position in Inspired Entertainment in the second quarter valued at approximately $11,047,000. Kanen Wealth Management LLC increased its position in shares of Inspired Entertainment by 50.9% during the 1st quarter. Kanen Wealth Management LLC now owns 2,006,017 shares of the company’s stock worth $18,929,000 after purchasing an additional 676,988 shares during the last quarter. Potomac Capital Management Inc. acquired a new position in shares of Inspired Entertainment during the 4th quarter worth approximately $6,089,000. Finally, Ancora Advisors LLC acquired a new position in shares of Inspired Entertainment during the 2nd quarter worth approximately $1,330,000. 77.38% of the stock is currently 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.