Aviva Holdings Ltd. Acquires New Position in Inseego Corp. (NASDAQ:INSG)

Aviva Holdings Ltd. bought a new stake in Inseego Corp. (NASDAQ:INSG - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,456,000 shares of the technology company's stock, valued at approximately $41,219,000. Inseego comprises 100.0% of Aviva Holdings Ltd.'s holdings, making the stock its largest holding. Aviva Holdings Ltd. owned 199.15% of Inseego as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Marshall Wace LLP acquired a new stake in Inseego during the second quarter worth about $833,000. Renaissance Technologies LLC purchased a new position in Inseego during the second quarter worth about $274,000. Dynamic Technology Lab Private Ltd purchased a new position in Inseego during the third quarter worth about $353,000. Olympiad Research LP purchased a new position in Inseego during the third quarter worth about $184,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Inseego during the third quarter worth about $73,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Inseego Stock Performance

Shares of Inseego stock traded up $0.35 on Monday, reaching $12.29. The company had a trading volume of 276,117 shares, compared to its average volume of 185,063. The firm's 50 day moving average price is $16.53 and its two-hundred day moving average price is $12.98. The firm has a market cap of $183.80 million, a PE ratio of -6.87 and a beta of 1.60. Inseego Corp. has a 52-week low of $1.62 and a 52-week high of $20.67.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INSG shares. Roth Mkm raised shares of Inseego from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $13.00 to $15.00 in a research note on Thursday, November 14th. Stifel Nicolaus boosted their price target on shares of Inseego from $11.00 to $17.00 and gave the company a "hold" rating in a research note on Tuesday, September 17th. TD Cowen reduced their price target on shares of Inseego from $20.00 to $16.00 and set a "hold" rating on the stock in a research note on Friday, November 15th. Finally, Roth Capital raised shares of Inseego from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 14th.

Insider Activity at Inseego

In other Inseego news, Chairman Philip G. Brace acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the acquisition, the chairman now owns 177,763 shares of the company's stock, valued at approximately $2,204,261.20. This trade represents a 5.96 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

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.