Aviva Holdings Ltd. Acquires Shares of 24,456,000 Inseego Corp. (NASDAQ:INSG)

Aviva Holdings Ltd. acquired a new position in Inseego Corp. (NASDAQ:INSG) in the third quarter, HoldingsChannel.com reports. The fund acquired 24,456,000 shares of the technology company’s stock, valued at approximately $41,219,000. Inseego comprises 100.0% of Aviva Holdings Ltd.’s portfolio, making the stock its biggest position. Aviva Holdings Ltd. owned 1.99% of Inseego at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INSG. Covestor Ltd purchased a new position in shares of Inseego during the 3rd quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Inseego during the third quarter worth $73,000. Olympiad Research LP purchased a new position in Inseego during the third quarter valued at $184,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Inseego in the third quarter valued at about $353,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Inseego during the second quarter worth about $274,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Inseego

In related news, Chairman Philip G. Brace acquired 10,000 shares of Inseego stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the transaction, the chairman now owns 177,763 shares in the company, valued at $2,204,261.20. This represents a 5.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INSG. TD Cowen decreased their price target on shares of Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Roth Capital upgraded Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their price target on Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a research note on Tuesday, September 17th. Finally, Roth Mkm raised Inseego from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $15.00 in a research note on Thursday, November 14th.

Inseego Trading Down 0.3 %

Shares of NASDAQ INSG opened at $11.94 on Monday. The stock has a market cap of $178.50 million, a PE ratio of -6.63 and a beta of 1.60. Inseego Corp. has a 12-month low of $1.62 and a 12-month high of $20.67. The company has a 50-day moving average of $16.53 and a 200 day moving average of $12.98.

Inseego Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.