Inspired Entertainment Inc (NASDAQ:INSE) shares shot up 13.8% during mid-day trading on Wednesday . The company traded as high as $8.89 and last traded at $8.89. 119,700 shares traded hands during mid-day trading, an increase of 468% from the average session volume of 21,071 shares. The stock had previously closed at $7.81.
Separately, Zacks Investment Research cut Inspired Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, May 18th.
The stock has a market cap of $171.14 million, a PE ratio of -14.34 and a beta of 1.17.
A number of institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp grew its position in Inspired Entertainment by 11.4% in the first quarter. Northern Trust Corp now owns 16,644 shares of the company’s stock valued at $111,000 after acquiring an additional 1,704 shares during the last quarter. Citigroup Inc. bought a new position in Inspired Entertainment in the first quarter valued at about $28,000. Dimensional Fund Advisors LP grew its position in Inspired Entertainment by 30.0% in the first quarter. Dimensional Fund Advisors LP now owns 19,181 shares of the company’s stock valued at $128,000 after acquiring an additional 4,427 shares during the last quarter. Penn Capital Management Co. Inc. grew its holdings in shares of Inspired Entertainment by 4.4% during the fourth quarter. Penn Capital Management Co. Inc. now owns 109,560 shares of the company’s stock worth $526,000 after purchasing an additional 4,650 shares during the last quarter. Finally, Teton Advisors Inc. grew its holdings in shares of Inspired Entertainment by 6.4% during the first quarter. Teton Advisors Inc. now owns 311,478 shares of the company’s stock worth $2,076,000 after purchasing an additional 18,600 shares during the last quarter. Hedge funds and other institutional investors own 74.65% of the company’s stock.
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Inspired Entertainment Company Profile (NASDAQ:INSE)
Inspired Entertainment, Inc, a business-to-business gaming technology company, supplies virtual sports and server based gaming worldwide. It designs, develops, markets, and distributes a portfolio of games through its digital network architecture to betting offices, casinos, gaming hall and bingo operators, and regulated operators of lotteries, as well as government affiliated and licensed operators.
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