Insider Buying: Inseego Corp. (NASDAQ:INSG) Chairman Purchases 10,000 Shares of Stock

Inseego Corp. (NASDAQ:INSG - Get Free Report) Chairman Philip G. Brace bought 10,000 shares of Inseego stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $12.40 per share, with a total value of $124,000.00. Following the purchase, the chairman now directly owns 177,763 shares of the company's stock, valued at approximately $2,204,261.20. This represents a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Inseego Stock Up 8.1 %

Shares of INSG stock traded up $0.96 on Monday, reaching $12.84. The company's stock had a trading volume of 415,974 shares, compared to its average volume of 185,405. The company has a market capitalization of $191.96 million, a P/E ratio of -7.17 and a beta of 1.60. Inseego Corp. has a 12-month low of $1.62 and a 12-month high of $20.67. The stock's 50 day simple moving average is $17.49 and its 200-day simple moving average is $12.42.

Institutional Trading of Inseego

Large investors have recently modified their holdings of the business. Aviva Holdings Ltd. purchased a new stake in Inseego in the third quarter valued at approximately $41,219,000. Geode Capital Management LLC grew its position in Inseego by 7.6% in the third quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company's stock worth $1,704,000 after acquiring an additional 7,325 shares in the last quarter. Marshall Wace LLP purchased a new position in Inseego in the second quarter worth $833,000. Renaissance Technologies LLC bought a new position in Inseego in the second quarter valued at $274,000. Finally, Jane Street Group LLC raised its position in Inseego by 142.9% during the third quarter. Jane Street Group LLC now owns 24,307 shares of the technology company's stock valued at $397,000 after purchasing an additional 80,996 shares in the last quarter. Institutional investors own 34.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on INSG. TD Cowen lowered their target price on shares of Inseego from $20.00 to $16.00 and set a "hold" rating on the stock in a report on Friday. Roth Mkm raised Inseego from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $13.00 to $15.00 in a report on Thursday. Stifel Nicolaus raised their target price on Inseego from $11.00 to $17.00 and gave the stock a "hold" rating in a research note on Tuesday, September 17th. Finally, Roth Capital upgraded Inseego from a "hold" rating to a "strong-buy" rating in a research report on Thursday.

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.