JPMorgan Chase & Co. Buys 33,529 Shares of Inseego Corp. (NASDAQ:INSG)

JPMorgan Chase & Co. lifted its position in shares of Inseego Corp. (NASDAQ:INSG) by 6,510.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,044 shares of the technology company’s stock after purchasing an additional 33,529 shares during the period. JPMorgan Chase & Co. owned 0.23% of Inseego worth $556,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in INSG. Aviva Holdings Ltd. bought a new stake in shares of Inseego during the 3rd quarter valued at $41,219,000. Jane Street Group LLC increased 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 valued at $397,000 after buying an additional 80,996 shares during the period. Marshall Wace LLP acquired a new stake in shares of Inseego in the second quarter valued at about $833,000. Renaissance Technologies LLC acquired a new stake in shares of Inseego in the second quarter valued at about $274,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Inseego during the third quarter worth approximately $353,000. 34.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Inseego

In related news, Chairman Philip G. Brace bought 10,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the transaction, the chairman now owns 177,763 shares of the company’s stock, valued at approximately $2,204,261.20. This trade 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 is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Inseego Stock Down 6.0 %

INSG stock opened at $11.54 on Tuesday. Inseego Corp. has a twelve month low of $2.08 and a twelve month high of $20.67. The firm has a market cap of $172.64 million, a PE ratio of -6.41 and a beta of 1.49. The business has a 50 day moving average of $11.34 and a 200 day moving average of $13.55.

Analyst Ratings Changes

Several research analysts have issued reports on INSG shares. Roth Mkm upgraded Inseego from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.00 to $15.00 in a report on Thursday, November 14th. Roth Capital raised Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th. TD Cowen reduced their price target on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Finally, Stifel Nicolaus reduced their target price on Inseego from $17.00 to $12.00 and set a “hold” rating for the company in a research 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.