Inspired Entertainment (NASDAQ:INSE) Share Price Passes Below 50 Day Moving Average – Here’s Why

Inspired Entertainment, Inc. (NASDAQ:INSE)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $9.80 and traded as low as $8.50. Inspired Entertainment shares last traded at $8.67, with a volume of 129,598 shares changing hands.

Wall Street Analysts Forecast Growth

INSE has been the topic of a number of research analyst reports. Truist Financial set a $19.00 price objective on shares of Inspired Entertainment in a report on Friday, March 14th. New Street Research set a $21.00 price target on Inspired Entertainment in a research note on Friday, March 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $14.00 price target on shares of Inspired Entertainment in a report on Friday, March 14th.

Inspired Entertainment Stock Performance

The company has a fifty day moving average price of $9.80 and a two-hundred day moving average price of $9.52. The company has a market cap of $230.43 million, a P/E ratio of -866.13 and a beta of 1.38.

Inspired Entertainment (NASDAQ:INSE) last posted its quarterly earnings results on Monday, March 17th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.13). The company had revenue of $83.00 million during the quarter, compared to the consensus estimate of $79.19 million. Inspired Entertainment had a negative net margin of 0.10% and a negative return on equity of 6.35%. Research analysts anticipate that Inspired Entertainment, Inc. will post 0.3 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 stock. Barclays PLC boosted its holdings in shares of Inspired Entertainment by 314.1% during the 3rd quarter. Barclays PLC now owns 31,321 shares of the company’s stock worth $291,000 after buying an additional 23,757 shares during the period. Geode Capital Management LLC lifted its position in Inspired Entertainment by 0.8% during the third quarter. Geode Capital Management LLC now owns 521,451 shares of the company’s stock worth $4,835,000 after acquiring an additional 4,233 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Inspired Entertainment during the fourth quarter worth approximately $97,000. State Street Corp grew its position in shares of Inspired Entertainment by 0.7% in the third quarter. State Street Corp now owns 405,625 shares of the company’s stock valued at $3,760,000 after purchasing an additional 2,675 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Inspired Entertainment by 232.2% during the third quarter. BNP Paribas Financial Markets now owns 28,317 shares of the company’s stock worth $262,000 after purchasing an additional 19,794 shares during the period. 77.38% of the stock is currently owned by institutional investors and hedge funds.

About Inspired Entertainment

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.