Inspired Entertainment (NASDAQ:INSE) Upgraded by Craig Hallum to Strong-Buy

Craig Hallum upgraded shares of Inspired Entertainment (NASDAQ:INSE) to a strong-buy rating in a report published on Thursday morning, Zacks.com reports.

Separately, Macquarie decreased their price objective on Inspired Entertainment from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 9th.

Inspired Entertainment Price Performance

Shares of INSE opened at $9.42 on Thursday. The firm has a market capitalization of $250.30 million, a price-to-earnings ratio of 157.00 and a beta of 1.40. The company has a 50-day moving average of $9.02 and a 200 day moving average of $9.01. Inspired Entertainment has a 1-year low of $6.12 and a 1-year high of $11.79.

Inspired Entertainment (NASDAQ:INSE) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The firm had revenue of $75.60 million during the quarter, compared to analysts’ expectations of $74.30 million. Inspired Entertainment had a negative net margin of 0.09% and a negative return on equity of 6.47%. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, equities analysts anticipate that Inspired Entertainment will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inspired Entertainment

Hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. raised its holdings in Inspired Entertainment by 245.5% in the second quarter. Private Management Group Inc. now owns 1,205,281 shares of the company’s stock worth $11,028,000 after purchasing an additional 856,386 shares in the last quarter. Foundry Partners LLC lifted its position in Inspired Entertainment by 26.2% during the second quarter. Foundry Partners LLC now owns 469,465 shares of the company’s stock valued at $4,296,000 after acquiring an additional 97,320 shares during the last quarter. Hood River Capital Management LLC boosted its stake in Inspired Entertainment by 79.0% in the first quarter. Hood River Capital Management LLC now owns 198,408 shares of the company’s stock valued at $1,956,000 after acquiring an additional 87,569 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Inspired Entertainment by 51.4% in the first quarter. Gamco Investors INC. ET AL now owns 199,700 shares of the company’s stock worth $1,969,000 after purchasing an additional 67,800 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Inspired Entertainment by 104.0% during the second quarter. Renaissance Technologies LLC now owns 71,600 shares of the company’s stock worth $655,000 after purchasing an additional 36,500 shares in the last quarter. 77.38% of the stock is currently owned by hedge funds and other institutional investors.

About Inspired Entertainment

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.