5,836 Shares in Inseego Corp. (NASDAQ:INSG) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in Inseego Corp. (NASDAQ:INSG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,836 shares of the technology company’s stock, valued at approximately $60,000.

A number of other institutional investors have also added to or reduced their stakes in INSG. Jane Street Group LLC lifted its position in shares of Inseego by 142.9% in the third quarter. Jane Street Group LLC now owns 24,307 shares of the technology company’s stock worth $397,000 after buying an additional 80,996 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Inseego by 6,510.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,044 shares of the technology company’s stock worth $556,000 after acquiring an additional 33,529 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Inseego during the 4th quarter worth approximately $193,000. XTX Topco Ltd bought a new position in shares of Inseego during the 3rd quarter valued at approximately $277,000. Finally, Centiva Capital LP bought a new position in shares of Inseego during the 3rd quarter valued at approximately $214,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Inseego Trading Down 0.2 %

INSG opened at $8.15 on Wednesday. The stock has a 50-day moving average of $10.89 and a 200 day moving average of $13.14. Inseego Corp. has a 12 month low of $2.22 and a 12 month high of $20.67. The firm has a market cap of $122.30 million, a P/E ratio of -13.14 and a beta of 1.62.

Inseego (NASDAQ:INSG) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $48.09 million during the quarter, compared to the consensus estimate of $45.56 million. Inseego had a net margin of 2.22% and a negative return on equity of 4.08%. On average, research analysts forecast that Inseego Corp. will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reduced their price target on shares of Inseego from $17.00 to $12.00 and set a “hold” rating on the stock in a research report on Friday, December 20th.

Inseego Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.