Zacks Research Downgrades Inspired Entertainment (NASDAQ:INSE) to Hold

Inspired Entertainment (NASDAQ:INSE) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on INSE. Weiss Ratings reissued a “sell (d)” rating on shares of Inspired Entertainment in a research note on Monday, June 8th. BWS Financial reissued a “buy” rating and set a $20.00 price target on shares of Inspired Entertainment in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Inspired Entertainment presently has an average rating of “Hold” and a consensus target price of $15.00.

Inspired Entertainment Trading Down 2.6%

Shares of INSE opened at $6.86 on Tuesday. Inspired Entertainment has a 1 year low of $6.10 and a 1 year high of $9.95. The stock has a market cap of $182.96 million, a P/E ratio of -11.25 and a beta of 1.20. The stock’s 50-day moving average price is $7.51 and its two-hundred day moving average price is $7.69.

Inspired Entertainment (NASDAQ:INSE) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The company had revenue of $57.20 million during the quarter, compared to the consensus estimate of $58.89 million. As a group, equities analysts forecast that Inspired Entertainment will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Inspired Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the business. Potomac Capital Management Inc. bought a new stake in Inspired Entertainment during the 4th quarter worth approximately $6,089,000. Kanen Wealth Management LLC lifted its stake in Inspired Entertainment by 50.9% in the first quarter. Kanen Wealth Management LLC now owns 2,006,017 shares of the company’s stock valued at $18,929,000 after buying an additional 676,988 shares in the last quarter. LSV Asset Management acquired a new position in shares of Inspired Entertainment in the fourth quarter valued at approximately $93,000. Gabelli Funds LLC increased its position in shares of Inspired Entertainment by 10.7% during the fourth quarter. Gabelli Funds LLC now owns 187,000 shares of the company’s stock worth $1,750,000 after acquiring an additional 18,000 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Inspired Entertainment by 210.3% during the third quarter. JPMorgan Chase & Co. now owns 37,337 shares of the company’s stock worth $350,000 after acquiring an additional 25,306 shares during the period. 77.38% of the stock is currently owned by institutional investors and hedge funds.

About Inspired Entertainment

Inspired Entertainment, Inc (NASDAQ: INSE) is a business-to-business provider of digital gaming content and technology solutions for the global gaming industry. The company’s offerings include server-based gaming modules, virtual sports simulations, digital interactive content and mobile sports betting platforms. Inspired designs proprietary games and software that integrate with lotteries, casino operators, retail betting shops and online platforms, emphasizing reliable performance, rapid deployment and engaging player experiences.

At the core of Inspired’s product suite is its Virtual Sports catalog, which simulates sporting events using advanced algorithms and randomized outcomes.