Inspired Entertainment, Inc. (NASDAQ:INSE) Sees Significant Decline in Short Interest

Inspired Entertainment, Inc. (NASDAQ:INSE - Get Free Report) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 485,600 shares, a decrease of 5.1% from the November 30th total of 511,700 shares. Based on an average trading volume of 102,400 shares, the days-to-cover ratio is currently 4.7 days. Currently, 2.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum upgraded shares of Inspired Entertainment to a "strong-buy" rating in a research note on Thursday, October 17th.

Inspired Entertainment Trading Up 2.3 %

NASDAQ INSE traded up $0.20 on Wednesday, reaching $9.05. 91,325 shares of the stock were exchanged, compared to its average volume of 144,363. Inspired Entertainment has a one year low of $7.51 and a one year high of $11.00. The firm has a market capitalization of $240.55 million, a PE ratio of -904.10 and a beta of 1.39. The company's 50-day simple moving average is $9.51 and its two-hundred day simple moving average is $9.17.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Private Management Group Inc. raised its holdings in Inspired Entertainment by 245.5% during the second quarter. Private Management Group Inc. now owns 1,205,281 shares of the company's stock valued at $11,028,000 after acquiring an additional 856,386 shares during the period. Foundry Partners LLC lifted its holdings in Inspired Entertainment by 26.2% in the 2nd quarter. Foundry Partners LLC now owns 469,465 shares of the company's stock worth $4,296,000 after purchasing an additional 97,320 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Inspired Entertainment by 104.0% in the 2nd quarter. Renaissance Technologies LLC now owns 71,600 shares of the company's stock worth $655,000 after purchasing an additional 36,500 shares during the period. Barclays PLC grew its holdings in Inspired Entertainment by 314.1% during the 3rd quarter. Barclays PLC now owns 31,321 shares of the company's stock valued at $291,000 after buying an additional 23,757 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Inspired Entertainment by 232.2% in the third quarter. BNP Paribas Financial Markets now owns 28,317 shares of the company's stock worth $262,000 after buying an additional 19,794 shares in the last quarter. Hedge funds and other institutional investors own 77.38% of the company's stock.

Inspired Entertainment Company Profile

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.