683 Capital Management LLC Reduces Position in Inspired Entertainment, Inc. $INSE

683 Capital Management LLC decreased its stake in shares of Inspired Entertainment, Inc. (NASDAQ:INSE) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,061,044 shares of the company’s stock after selling 63,956 shares during the quarter. 683 Capital Management LLC’s holdings in Inspired Entertainment were worth $9,931,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of INSE. Kanen Wealth Management LLC increased its position in Inspired Entertainment by 50.9% during the first quarter. Kanen Wealth Management LLC now owns 2,006,017 shares of the company’s stock worth $18,929,000 after buying an additional 676,988 shares in the last quarter. Jane Street Group LLC purchased a new position in Inspired Entertainment during the first quarter worth $123,000. Geode Capital Management LLC boosted its holdings in shares of Inspired Entertainment by 8.9% during the second quarter. Geode Capital Management LLC now owns 565,185 shares of the company’s stock worth $4,619,000 after purchasing an additional 46,328 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Inspired Entertainment by 11.8% during the second quarter. Rhumbline Advisers now owns 35,915 shares of the company’s stock worth $293,000 after purchasing an additional 3,794 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings 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 worth $202,000 after purchasing an additional 5,450 shares during the last quarter. Hedge funds and other institutional investors own 77.38% of the company’s stock.

Insider Activity at Inspired Entertainment

In other news, Chairman A Lorne Weil bought 21,659 shares of Inspired Entertainment stock in a transaction that occurred on Thursday, March 26th. The shares were purchased at an average price of $6.85 per share, for a total transaction of $148,364.15. Following the completion of the acquisition, the chairman owned 602,771 shares of the company’s stock, valued at $4,128,981.35. The trade was a 3.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brooks H. Pierce bought 13,332 shares of Inspired Entertainment stock in a transaction that occurred on Thursday, March 26th. The stock was purchased at an average price of $6.88 per share, for a total transaction of $91,724.16. Following the acquisition, the chief executive officer directly owned 52,407 shares of the company’s stock, valued at $360,560.16. The trade was a 34.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 80,000 shares of company stock worth $545,748. 13.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Zacks Research upgraded Inspired Entertainment from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d)” rating on shares of Inspired Entertainment in a report on Monday, June 8th. Finally, BWS Financial restated a “buy” rating and set a $20.00 price objective on shares of Inspired Entertainment in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

Inspired Entertainment Stock Down 1.6%

INSE stock opened at $8.00 on Thursday. Inspired Entertainment, Inc. has a 52-week low of $6.10 and a 52-week high of $9.95. The stock’s fifty day simple moving average is $7.39 and its 200-day simple moving average is $8.06. The stock has a market capitalization of $213.36 million, a price-to-earnings ratio of -13.11 and a beta of 1.22.

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

Inspired Entertainment 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.