Inspired Entertainment’s (INSE) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Inspired Entertainment (NASDAQ:INSE) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $14.00 price target on the stock.

Separately, Craig Hallum upgraded Inspired Entertainment to a “strong-buy” rating in a research note on Thursday, October 17th.

Inspired Entertainment Stock Performance

Shares of NASDAQ INSE opened at $9.47 on Thursday. The firm’s 50 day moving average price is $9.37 and its 200-day moving average price is $9.15. Inspired Entertainment has a 52-week low of $7.51 and a 52-week high of $11.00. The company has a market cap of $251.71 million, a PE ratio of -946.05 and a beta of 1.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Inspired Entertainment by 15.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 65,768 shares of the company’s stock valued at $602,000 after buying an additional 8,753 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Inspired Entertainment by 104.0% in the second quarter. Renaissance Technologies LLC now owns 71,600 shares of the company’s stock worth $655,000 after acquiring an additional 36,500 shares during the period. Gabelli Funds LLC increased its position in Inspired Entertainment by 11.4% during the second quarter. Gabelli Funds LLC now owns 142,000 shares of the company’s stock valued at $1,299,000 after acquiring an additional 14,500 shares during the last quarter. Bfsg LLC lifted its holdings in Inspired Entertainment by 39.0% in the third quarter. Bfsg LLC now owns 13,725 shares of the company’s stock valued at $127,000 after acquiring an additional 3,850 shares during the period. Finally, Clarus Group Inc. purchased a new position in Inspired Entertainment in the third quarter worth about $116,000. Institutional investors own 77.38% of the company’s stock.

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.