Inspired Entertainment, Inc. (NASDAQ:INSE) Sees Large Increase in Short Interest

Inspired Entertainment, Inc. (NASDAQ:INSEGet Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 498,000 shares, an increase of 11.4% from the February 29th total of 447,200 shares. Based on an average daily trading volume, of 120,400 shares, the days-to-cover ratio is currently 4.1 days. Currently, 2.1% of the shares of the company are sold short.

Inspired Entertainment Trading Down 4.9 %

Shares of Inspired Entertainment stock opened at $9.50 on Wednesday. Inspired Entertainment has a 52 week low of $6.12 and a 52 week high of $16.01. The company’s 50-day moving average price is $9.42 and its two-hundred day moving average price is $9.56. The stock has a market cap of $249.09 million, a PE ratio of 26.39 and a beta of 1.42.

Inspired Entertainment (NASDAQ:INSEGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share for the quarter. Inspired Entertainment had a net margin of 3.22% and a negative return on equity of 16.61%. The firm had revenue of $97.50 million during the quarter. On average, equities analysts predict that Inspired Entertainment will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Macquarie downgraded shares of Inspired Entertainment from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $10.00 in a report on Wednesday, January 17th.

View Our Latest Research Report on Inspired Entertainment

Hedge Funds Weigh In On Inspired Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cannell Capital LLC grew its position in Inspired Entertainment by 28.8% during the third quarter. Cannell Capital LLC now owns 1,409,672 shares of the company’s stock valued at $16,860,000 after purchasing an additional 315,530 shares in the last quarter. Portolan Capital Management LLC raised its holdings in shares of Inspired Entertainment by 104.1% during the 1st quarter. Portolan Capital Management LLC now owns 489,720 shares of the company’s stock valued at $6,024,000 after purchasing an additional 249,794 shares in the last quarter. Ameriprise Financial Inc. increased its position in Inspired Entertainment by 250.3% during the first quarter. Ameriprise Financial Inc. now owns 338,480 shares of the company’s stock worth $4,329,000 after buying an additional 241,866 shares during the last quarter. State Street Corp increased its holdings in shares of Inspired Entertainment by 221.9% during the 2nd quarter. State Street Corp now owns 267,868 shares of the company’s stock valued at $2,306,000 after acquiring an additional 184,648 shares during the last quarter. Finally, Private Management Group Inc. bought a new stake in shares of Inspired Entertainment during the 4th quarter worth $1,772,000. 77.38% of the stock is currently owned by hedge funds and other institutional investors.

About Inspired Entertainment

(Get Free Report)

Inspired Entertainment, Inc, a gaming technology company, engages in the supply of content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide. It operates in four segments: Gaming, Virtual Sports, Interactive, and Leisure. The Gaming segment supplies gaming terminals and software to betting offices, casinos, gaming halls, and high street adult gaming centers; a portfolio of games through its digital terminals under the Centurion and Super Hot Fruits names; and traditional casino games, such as roulette, blackjack, and number games.

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