Inspired Entertainment (NASDAQ:INSE) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Inspired Entertainment (NASDAQ:INSE) from a sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Inspired Entertainment, Inc. is a games technology company. It engaged in supplying Virtual Sports, Mobile Gaming and Server-Based Gaming systems to regulated lottery, betting and gaming operators. Inspired Entertainment Inc., formerly known as Hydra Industries Acquisition Corp, is based in New York. “

INSE stock opened at $8.13 on Wednesday. The business’s 50 day moving average price is $8.44. Inspired Entertainment has a fifty-two week low of $3.86 and a fifty-two week high of $9.70.

Inspired Entertainment (NASDAQ:INSE) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.12). The company had revenue of $33.67 million during the quarter, compared to analyst estimates of $33.69 million. Analysts anticipate that Inspired Entertainment will post -0.85 earnings per share for the current year.

Several institutional investors have recently modified their holdings of INSE. Penn Capital Management Co. Inc. raised its stake in shares of Inspired Entertainment by 4.4% in 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. Gabelli Funds LLC raised its stake in shares of Inspired Entertainment by 42.6% in the first quarter. Gabelli Funds LLC now owns 98,710 shares of the company’s stock worth $658,000 after purchasing an additional 29,477 shares during the last quarter. Teton Advisors Inc. raised its stake in shares of Inspired Entertainment by 6.4% in 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. 683 Capital Management LLC raised its stake in shares of Inspired Entertainment by 5.7% in the fourth quarter. 683 Capital Management LLC now owns 801,824 shares of the company’s stock worth $3,849,000 after purchasing an additional 43,394 shares during the last quarter. Finally, Vitruvian Partners LLP purchased a new stake in shares of Inspired Entertainment in the fourth quarter worth approximately $29,370,000. 74.65% of the stock is owned by hedge funds and other institutional investors.

Inspired Entertainment Company Profile

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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