Inspired Entertainment, Inc. (NASDAQ:INSE) Sees Significant Growth in Short Interest

Inspired Entertainment, Inc. (NASDAQ:INSE) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 547,400 shares, an increase of 7.6% from the January 15th total of 508,800 shares. Based on an average daily volume of 130,500 shares, the days-to-cover ratio is presently 4.2 days. Approximately 2.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $14.00 target price on shares of Inspired Entertainment in a report on Monday, January 27th.

Hedge Funds Weigh In On Inspired Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in shares of Inspired Entertainment by 51.0% in the 4th quarter. Wells Fargo & Company MN now owns 10,350 shares of the company’s stock valued at $94,000 after acquiring an additional 3,494 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in Inspired Entertainment during the fourth quarter valued at approximately $96,000. SG Americas Securities LLC bought a new stake in shares of Inspired Entertainment in the 4th quarter valued at approximately $97,000. GSA Capital Partners LLP purchased a new position in shares of Inspired Entertainment in the 3rd quarter worth approximately $106,000. Finally, Clarus Group Inc. bought a new position in shares of Inspired Entertainment during the 3rd quarter valued at approximately $116,000. 77.38% of the stock is owned by hedge funds and other institutional investors.

Inspired Entertainment Trading Up 0.2 %

INSE traded up $0.02 during trading hours on Monday, hitting $10.95. The company’s stock had a trading volume of 119,703 shares, compared to its average volume of 122,410. The stock has a market cap of $291.05 million, a price-to-earnings ratio of -1,093.91 and a beta of 1.40. The business’s 50-day moving average price is $9.42 and its 200-day moving average price is $9.31. Inspired Entertainment has a 12 month low of $7.51 and a 12 month high of $11.23.

Inspired Entertainment Company Profile

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.