Cannell Capital LLC Sells 217,070 Shares of Inspired Entertainment, Inc. (NASDAQ:INSE)

Cannell Capital LLC trimmed its stake in Inspired Entertainment, Inc. (NASDAQ:INSE - Free Report) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,749,364 shares of the company's stock after selling 217,070 shares during the period. Inspired Entertainment comprises about 3.3% of Cannell Capital LLC's investment portfolio, making the stock its 12th largest position. Cannell Capital LLC owned 6.58% of Inspired Entertainment worth $15,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Inspired Entertainment by 232.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 28,317 shares of the company's stock worth $262,000 after acquiring an additional 19,794 shares in the last quarter. State Street Corp boosted its stake in Inspired Entertainment by 0.7% in the third quarter. State Street Corp now owns 405,625 shares of the company's stock worth $3,760,000 after purchasing an additional 2,675 shares in the last quarter. Barclays PLC grew its holdings in shares of Inspired Entertainment by 314.1% during the third quarter. Barclays PLC now owns 31,321 shares of the company's stock worth $291,000 after purchasing an additional 23,757 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Inspired Entertainment by 0.8% in the third quarter. Geode Capital Management LLC now owns 521,451 shares of the company's stock valued at $4,835,000 after buying an additional 4,233 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in shares of Inspired Entertainment by 4.4% in the third quarter. SkyView Investment Advisors LLC now owns 27,674 shares of the company's stock valued at $257,000 after buying an additional 1,174 shares during the last quarter. 77.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on INSE shares. JMP Securities reissued a "market outperform" rating and set a $14.00 price objective on shares of Inspired Entertainment in a report on Friday, March 14th. B. Riley started coverage on shares of Inspired Entertainment in a report on Tuesday, April 8th. They issued a "buy" rating and a $13.00 price target for the company. Truist Financial set a $19.00 price objective on Inspired Entertainment in a research report on Friday, March 14th. Finally, New Street Research set a $21.00 price target on Inspired Entertainment in a research note on Friday, March 14th.

Inspired Entertainment Stock Up 1.1 %

INSE stock traded up $0.08 during midday trading on Friday, reaching $7.28. The company's stock had a trading volume of 109,066 shares, compared to its average volume of 119,543. The business's 50-day simple moving average is $9.28 and its 200-day simple moving average is $9.37. Inspired Entertainment, Inc. has a 52 week low of $6.51 and a 52 week high of $11.61. The stock has a market cap of $195.87 million, a PE ratio of -727.27 and a beta of 1.27.

Inspired Entertainment (NASDAQ:INSE - Get Free Report) last posted its quarterly earnings results on Monday, March 17th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.13). The company had revenue of $83.00 million during the quarter, compared to the consensus estimate of $79.19 million. Inspired Entertainment had a negative return on equity of 6.35% and a negative net margin of 0.10%. As a group, equities analysts forecast that Inspired Entertainment, Inc. will post 0.3 earnings per share for the current fiscal year.

About Inspired Entertainment

Inspired Entertainment, Inc, a gaming technology company, engages in the supply of content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide. It operates in four segments: Gaming, Virtual Sports, Interactive, and Leisure. The Gaming segment supplies gaming terminals and software to betting offices, casinos, gaming halls, and high street adult gaming centers; a portfolio of games through its digital terminals under the Centurion and Super Hot Fruits names; and traditional casino games, such as roulette, blackjack, and number games.