78,138 Shares in Inseego Corp. (NASDAQ:INSG) Bought by Marshall Wace LLP

Marshall Wace LLP purchased a new stake in Inseego Corp. (NASDAQ:INSG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,138 shares of the technology company’s stock, valued at approximately $833,000. Marshall Wace LLP owned 0.66% of Inseego at the end of the most recent reporting period.

Separately, Braslyn Ltd. acquired a new position in shares of Inseego during the fourth quarter valued at about $1,675,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Inseego Stock Performance

NASDAQ:INSG opened at $17.56 on Wednesday. The company has a market capitalization of $208.67 million, a price-to-earnings ratio of -4.26 and a beta of 1.61. The company has a 50-day moving average of $14.05 and a 200-day moving average of $9.38. Inseego Corp. has a 52 week low of $1.62 and a 52 week high of $19.04.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.02) earnings per share for the quarter. The business had revenue of $59.15 million during the quarter, compared to the consensus estimate of $53.63 million. Sell-side analysts forecast that Inseego Corp. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. TD Cowen upped their target price on Inseego from $13.50 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th.

Inseego 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.