Barclays PLC Raises Holdings in Inseego Corp. (NASDAQ:INSG)

Barclays PLC boosted its stake in shares of Inseego Corp. (NASDAQ:INSG) by 71.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,051 shares of the technology company’s stock after acquiring an additional 1,686 shares during the quarter. Barclays PLC’s holdings in Inseego were worth $67,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Aviva Holdings Ltd. purchased a new position in Inseego during the third quarter worth approximately $41,219,000. Jane Street Group LLC lifted its stake in shares of Inseego by 142.9% in the third quarter. Jane Street Group LLC now owns 24,307 shares of the technology company’s stock worth $397,000 after buying an additional 80,996 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Inseego during the 2nd quarter worth approximately $833,000. Renaissance Technologies LLC purchased a new stake in Inseego in the 2nd quarter valued at $274,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Inseego during the third quarter worth about $353,000. 34.20% of the stock is owned by institutional investors and hedge funds.

Inseego Stock Down 0.9 %

Inseego stock opened at $12.28 on Friday. The company’s 50 day moving average is $11.33 and its two-hundred day moving average is $13.51. The firm has a market cap of $183.71 million, a PE ratio of -6.82 and a beta of 1.49. Inseego Corp. has a 52-week low of $1.90 and a 52-week high of $20.67.

Insider Activity at Inseego

In other news, Chairman Philip G. Brace bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the purchase, the chairman now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on INSG shares. TD Cowen lowered their price target on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a report on Friday, November 15th. Roth Capital raised shares of Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Roth Mkm upgraded Inseego from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $15.00 in a research note on Thursday, November 14th. Finally, Stifel Nicolaus cut their price objective on Inseego from $17.00 to $12.00 and set a “hold” rating on the stock in a report on Friday, December 20th.

About Inseego

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.