Zacks Investment Research Lowers Inspired Entertainment (NASDAQ:INSE) to Sell

Inspired Entertainment (NASDAQ:INSE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Inspired Entertainment, Inc. is a games technology company. It engaged in supplying Virtual Sports, Mobile Gaming and Server-Based Gaming systems to regulated lottery, betting and gaming operators. Inspired Entertainment Inc., formerly known as Hydra Industries Acquisition Corp, is based in New York. “

INSE traded up $0.04 during mid-day trading on Thursday, hitting $7.00. 34,419 shares of the stock were exchanged, compared to its average volume of 26,100. The firm’s fifty day moving average is $8.10 and its two-hundred day moving average is $7.53. Inspired Entertainment has a 1-year low of $3.86 and a 1-year high of $9.70. The company has a market cap of $173.42 million, a PE ratio of -11.29 and a beta of 1.26.

Inspired Entertainment (NASDAQ:INSE) last posted its earnings results on Monday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.20). The company had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $30.11 million. Sell-side analysts anticipate that Inspired Entertainment will post -0.85 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Teton Advisors Inc. raised its position in Inspired Entertainment by 6.4% in the 1st quarter. Teton Advisors Inc. now owns 311,478 shares of the company’s stock valued at $2,076,000 after purchasing an additional 18,600 shares in the last quarter. Penn Capital Management Co. Inc. raised its position in Inspired Entertainment by 4.7% in the 1st quarter. Penn Capital Management Co. Inc. now owns 114,684 shares of the company’s stock valued at $764,000 after purchasing an additional 5,124 shares in the last quarter. Gabelli Funds LLC raised its position in Inspired Entertainment by 42.6% in the 1st quarter. Gabelli Funds LLC now owns 98,710 shares of the company’s stock valued at $658,000 after purchasing an additional 29,477 shares in the last quarter. BlackRock Inc. raised its position in Inspired Entertainment by 525.8% in the 2nd quarter. BlackRock Inc. now owns 515,300 shares of the company’s stock valued at $4,349,000 after purchasing an additional 432,956 shares in the last quarter. Finally, Northern Trust Corp raised its position in Inspired Entertainment by 44.7% in the 2nd quarter. Northern Trust Corp now owns 24,091 shares of the company’s stock valued at $203,000 after purchasing an additional 7,447 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.

Inspired Entertainment Company Profile

Inspired Entertainment, Inc, a business-to-business gaming technology company, supplies virtual sports and server based gaming worldwide. It designs, develops, markets, and distributes a portfolio of games through its digital network architecture to betting offices, casinos, gaming hall and bingo operators, and regulated operators of lotteries, as well as government affiliated and licensed operators.

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