Resources Investment Advisors LLC. purchased a new stake in Inseego Corp. (NASDAQ:INSG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,360 shares of the technology company’s stock, valued at approximately $176,000.
Several other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Inseego by 2.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 45,698 shares of the technology company’s stock worth $707,000 after purchasing an additional 1,140 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Inseego by 280.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,900 shares of the technology company’s stock worth $29,000 after acquiring an additional 1,400 shares during the last quarter. Kestra Advisory Services LLC lifted its position in shares of Inseego by 14.8% in the fourth quarter. Kestra Advisory Services LLC now owns 13,263 shares of the technology company’s stock valued at $209,000 after acquiring an additional 1,714 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Inseego by 550.1% during the third quarter. Signaturefd LLC now owns 2,633 shares of the technology company’s stock valued at $27,000 after acquiring an additional 2,228 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Inseego during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 47.30% of the company’s stock.
NASDAQ INSG opened at $16.53 on Tuesday. Inseego Corp. has a 12 month low of $3.91 and a 12 month high of $21.93. The company has a 50-day moving average of $17.31 and a 200-day moving average of $12.74. The company has a market cap of $1.63 billion, a P/E ratio of -13.66 and a beta of 1.92.
In other news, CEO Dan Mondor sold 75,000 shares of the business’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $20.67, for a total transaction of $1,550,250.00. Following the completion of the sale, the chief executive officer now directly owns 231,488 shares of the company’s stock, valued at approximately $4,784,856.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Miller sold 1,260,820 shares of the company’s stock in a transaction on Monday, December 14th. The stock was sold at an average price of $15.59, for a total value of $19,656,183.80. The disclosure for this sale can be found here. Insiders sold 4,265,994 shares of company stock worth $65,860,449 over the last three months. Corporate insiders own 9.80% of the company’s stock.
Several equities research analysts have issued reports on INSG shares. Zacks Investment Research raised shares of Inseego from a “sell” rating to a “hold” rating in a research note on Thursday, November 12th. Cowen raised their target price on shares of Inseego from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 17th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $13.89.
Inseego Company Profile
Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products for vertical markets, including private LTE/5G networks, First responders network authority/Firstnet, SD-WAN, telematics, remote monitoring and surveillance, and fixed wireless access and mobile broadband devices.
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