Short Interest in Inspired Entertainment, Inc. (NASDAQ:INSE) Expands By 18.4%

Inspired Entertainment, Inc. (NASDAQ:INSE) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 608,500 shares, an increase of 18.4% from the March 15th total of 514,000 shares. Based on an average trading volume of 153,200 shares, the days-to-cover ratio is presently 4.0 days. Currently, 2.5% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. New Street Research set a $21.00 target price on Inspired Entertainment in a research note on Friday, March 14th. Truist Financial set a $19.00 price target on shares of Inspired Entertainment in a report on Friday, March 14th. JMP Securities cut their price target on shares of Inspired Entertainment from $14.00 to $13.00 and set a “market outperform” rating on the stock in a report on Thursday. Finally, B. Riley started coverage on Inspired Entertainment in a report on Tuesday, April 8th. They issued a “buy” rating and a $13.00 target price on the stock.

Hedge Funds Weigh In On Inspired Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kanen Wealth Management LLC raised its stake in Inspired Entertainment by 50.9% in the first quarter. Kanen Wealth Management LLC now owns 2,006,017 shares of the company’s stock valued at $18,929,000 after purchasing an additional 676,988 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new position in shares of Inspired Entertainment during the fourth quarter worth $986,000. Renaissance Technologies LLC grew its position in shares of Inspired Entertainment by 193.2% in the 4th quarter. Renaissance Technologies LLC now owns 95,000 shares of the company’s stock valued at $860,000 after buying an additional 62,600 shares during the last quarter. Foundry Partners LLC raised its holdings in Inspired Entertainment by 10.3% during the 4th quarter. Foundry Partners LLC now owns 583,775 shares of the company’s stock worth $5,283,000 after purchasing an additional 54,395 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in Inspired Entertainment by 98.2% during the fourth quarter. Ancora Advisors LLC now owns 89,660 shares of the company’s stock valued at $811,000 after acquiring an additional 44,430 shares during the last quarter. Institutional investors and hedge funds own 77.38% of the company’s stock.

Inspired Entertainment Stock Performance

NASDAQ INSE traded down $0.31 on Monday, reaching $7.34. The company had a trading volume of 145,088 shares, compared to its average volume of 118,198. The company’s fifty day moving average is $8.93 and its 200-day moving average is $9.29. Inspired Entertainment has a 1-year low of $6.51 and a 1-year high of $11.61. The firm has a market capitalization of $197.48 million, a price-to-earnings ratio of -733.27 and a beta of 1.27.

Inspired Entertainment (NASDAQ:INSE) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.13). Inspired Entertainment had a negative return on equity of 6.35% and a negative net margin of 0.10%. The business had revenue of $83.00 million for the quarter, compared to analyst estimates of $79.19 million. On average, research analysts forecast that Inspired Entertainment will post 0.3 earnings per share for the current year.

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.