Inspired Entertainment Inc (NASDAQ:INSE) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 45,600 shares, a drop of 30.6% from the May 15th total of 65,700 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 22,600 shares, the short-interest ratio is presently 2.0 days.
Separately, Zacks Investment Research cut Inspired Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, May 18th.
A number of institutional investors have recently made changes to their positions in the stock. Vitruvian Partners LLP bought a new position in Inspired Entertainment in the 4th quarter worth $29,370,000. 683 Capital Management LLC raised its holdings in Inspired Entertainment by 5.7% in the 4th quarter. 683 Capital Management LLC now owns 801,824 shares of the company’s stock worth $3,849,000 after purchasing an additional 43,394 shares during the period. Teton Advisors Inc. raised its holdings in Inspired Entertainment by 6.4% in the 1st quarter. Teton Advisors Inc. now owns 311,478 shares of the company’s stock worth $2,076,000 after purchasing an additional 18,600 shares during the period. Penn Capital Management Co. Inc. raised its holdings 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 worth $764,000 after purchasing an additional 5,124 shares during the period. Finally, Gabelli Funds LLC raised its holdings in Inspired Entertainment by 42.6% in the 1st quarter. Gabelli Funds LLC now owns 98,710 shares of the company’s stock worth $658,000 after purchasing an additional 29,477 shares during the period. 74.65% of the stock is currently owned by institutional investors.
Inspired Entertainment stock traded up $0.17 during trading on Thursday, reaching $8.42. The company had a trading volume of 23,028 shares, compared to its average volume of 21,910. Inspired Entertainment has a 52 week low of $3.86 and a 52 week high of $9.70. The business’s 50-day moving average is $7.94. The stock has a market capitalization of $192.13 million, a price-to-earnings ratio of -13.58 and a beta of 1.18.
Inspired Entertainment (NASDAQ:INSE) last announced its earnings results on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.12). The company had revenue of $33.67 million during the quarter, compared to the consensus estimate of $33.69 million. On average, sell-side analysts forecast that Inspired Entertainment will post -0.85 earnings per share for the current fiscal year.
About Inspired Entertainment
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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