Wolverine Asset Management LLC Increases Stock Holdings in Inseego $INSG

Wolverine Asset Management LLC increased its holdings in Inseego (NASDAQ:INSG) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 325,136 shares of the technology company’s stock after acquiring an additional 15,630 shares during the quarter. Wolverine Asset Management LLC’s holdings in Inseego were worth $2,679,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in Inseego by 16.8% in the first quarter. Mackenzie Financial Corp now owns 12,659 shares of the technology company’s stock worth $103,000 after acquiring an additional 1,825 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in Inseego by 23.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock worth $158,000 after acquiring an additional 3,685 shares during the period. AlphaQuest LLC purchased a new stake in Inseego in the first quarter worth $317,000. OMERS ADMINISTRATION Corp lifted its stake in Inseego by 205.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 61,400 shares of the technology company’s stock worth $502,000 after acquiring an additional 41,300 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Inseego by 48.6% in the first quarter. Acadian Asset Management LLC now owns 229,169 shares of the technology company’s stock worth $1,870,000 after acquiring an additional 74,955 shares during the period. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Insider Buying and Selling at Inseego

In related news, Director Sound Trading Lp North purchased 31,094 shares of Inseego stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $8.98 per share, for a total transaction of $279,224.12. Following the completion of the acquisition, the director directly owned 2,128,669 shares of the company’s stock, valued at $19,115,447.62. The trade was a 1.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 55,001 shares of company stock worth $479,591 in the last ninety days. 20.90% of the stock is owned by company insiders.

Inseego Trading Up 1.9%

INSG opened at $16.64 on Friday. The stock has a fifty day simple moving average of $14.24 and a two-hundred day simple moving average of $10.11. The company has a market cap of $253.09 million, a price-to-earnings ratio of -47.54 and a beta of 1.26. Inseego has a 12-month low of $6.24 and a 12-month high of $19.75.

Analyst Upgrades and Downgrades

INSG has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Inseego in a report on Wednesday, October 8th. Stifel Nicolaus set a $14.00 price objective on Inseego and gave the stock a “hold” rating in a report on Friday, October 17th. Finally, Craig Hallum set a $20.00 price objective on Inseego and gave the stock a “buy” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.25.

Inseego Company 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.