Inspired Entertainment (NASDAQ:INSE) Stock Rating Lowered by Zacks Research

Inspired Entertainment (NASDAQ:INSE) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d)” rating on shares of Inspired Entertainment in a report on Monday, June 8th. BWS Financial restated a “buy” rating and issued a $20.00 price target on shares of Inspired Entertainment in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.00.

Inspired Entertainment Trading Down 2.6%

Inspired Entertainment stock opened at $6.86 on Tuesday. The company has a market capitalization of $182.96 million, a price-to-earnings ratio of -11.25 and a beta of 1.20. Inspired Entertainment has a 12 month low of $6.10 and a 12 month high of $9.95. The stock’s 50 day moving average is $7.51 and its 200-day moving average is $7.69.

Inspired Entertainment (NASDAQ:INSE) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. The firm had revenue of $57.20 million for the quarter, compared to analyst estimates of $58.89 million. As a group, equities research analysts predict that Inspired Entertainment will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inspired Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSE. LSV Asset Management acquired a new stake in shares of Inspired Entertainment during the 4th quarter worth $93,000. BNP Paribas Financial Markets increased its position in shares of Inspired Entertainment by 428.0% in the second quarter. BNP Paribas Financial Markets now owns 13,437 shares of the company’s stock worth $110,000 after purchasing an additional 10,892 shares during the period. Clarus Group Inc. raised its stake in Inspired Entertainment by 16.2% in the first quarter. Clarus Group Inc. now owns 15,591 shares of the company’s stock valued at $111,000 after purchasing an additional 2,170 shares in the last quarter. Jane Street Group LLC acquired a new position in Inspired Entertainment in the first quarter valued at about $123,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Inspired Entertainment by 28.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,085 shares of the company’s stock worth $151,000 after purchasing an additional 3,571 shares during the period. 77.38% of the stock is owned by institutional investors and hedge funds.

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.