Zacks Research Upgrades Inspired Entertainment (NASDAQ:INSE) to Hold

Inspired Entertainment (NASDAQ:INSE) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. BWS Financial restated a “buy” rating and set a $20.00 price target on shares of Inspired Entertainment in a report on Wednesday, March 11th. Weiss Ratings cut shares of Inspired Entertainment from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, March 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.00.

Inspired Entertainment Stock Performance

Shares of NASDAQ INSE opened at $7.96 on Thursday. The stock has a market cap of $212.29 million, a price-to-earnings ratio of -13.05 and a beta of 1.19. The business has a 50 day simple moving average of $7.17 and a 200 day simple moving average of $8.09. Inspired Entertainment has a 52 week low of $6.10 and a 52 week high of $9.95.

Inspired Entertainment (NASDAQ:INSE) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. The firm had revenue of $57.20 million during the quarter, compared to analysts’ expectations of $58.89 million. Inspired Entertainment had a negative net margin of 5.78% and a negative return on equity of 1,176.67%. On average, analysts predict that Inspired Entertainment will post 0.25 EPS for the current year.

Insider Buying and Selling

In other news, Director Michael R. Chambrello bought 10,000 shares of Inspired Entertainment stock in a transaction that occurred on Thursday, March 26th. The stock was purchased at an average cost of $6.92 per share, with a total value of $69,200.00. Following the completion of the transaction, the director directly owned 64,568 shares in the company, valued at $446,810.56. This trade represents a 18.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman A Lorne Weil bought 21,659 shares of Inspired Entertainment stock in a transaction that occurred on Thursday, March 26th. The stock was purchased at an average cost of $6.85 per share, with a total value of $148,364.15. Following the completion of the transaction, the chairman owned 602,771 shares of the company’s stock, valued at $4,128,981.35. This trade represents a 3.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 80,000 shares of company stock valued at $545,748 over the last ninety days. 13.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kanen Wealth Management LLC lifted its position in Inspired Entertainment by 12.3% in the third quarter. Kanen Wealth Management LLC now owns 2,683,969 shares of the company’s stock worth $25,085,000 after purchasing an additional 294,962 shares during the period. Private Management Group Inc. lifted its stake in Inspired Entertainment by 0.7% during the third quarter. Private Management Group Inc. now owns 1,313,904 shares of the company’s stock worth $12,324,000 after purchasing an additional 8,900 shares during the period. Brown Advisory Inc. lifted its stake in Inspired Entertainment by 8.4% during the fourth quarter. Brown Advisory Inc. now owns 900,633 shares of the company’s stock worth $8,430,000 after purchasing an additional 70,000 shares during the period. CSM Advisors LLC lifted its stake in Inspired Entertainment by 8.8% during the fourth quarter. CSM Advisors LLC now owns 707,428 shares of the company’s stock worth $6,621,000 after purchasing an additional 57,485 shares during the period. Finally, Potomac Capital Management Inc. bought a new position in Inspired Entertainment during the fourth quarter worth about $6,089,000. 77.38% of the stock is owned by institutional investors.

About Inspired Entertainment

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.