Zacks Investment Research Upgrades Inspired Entertainment (NASDAQ:INSE) to “Hold”

Zacks Investment Research upgraded shares of Inspired Entertainment (NASDAQ:INSE) from a sell rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Inspired Entertainment, Inc. is a games technology company. It engaged in supplying Virtual Sports, Mobile Gaming and Server-Based Gaming systems to regulated lottery, betting and gaming operators. Inspired Entertainment Inc., formerly known as Hydra Industries Acquisition Corp, is based in New York. “

NASDAQ INSE opened at $8.13 on Wednesday. Inspired Entertainment has a 1-year low of $3.86 and a 1-year high of $9.70. The stock has a fifty day moving average of $8.44.

Inspired Entertainment (NASDAQ:INSE) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.12). The firm had revenue of $33.67 million for the quarter, compared to analyst estimates of $33.69 million. Research analysts predict that Inspired Entertainment will post -0.85 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gabelli Funds LLC increased its stake in shares of Inspired Entertainment by 42.6% in the first quarter. Gabelli Funds LLC now owns 98,710 shares of the company’s stock worth $658,000 after acquiring an additional 29,477 shares during the last quarter. Penn Capital Management Co. Inc. boosted its holdings in Inspired Entertainment by 4.4% in the fourth quarter. Penn Capital Management Co. Inc. now owns 109,560 shares of the company’s stock worth $526,000 after purchasing an additional 4,650 shares in the last quarter. Teton Advisors Inc. boosted its holdings in Inspired Entertainment by 6.4% in the first 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 in the last quarter. 683 Capital Management LLC boosted its holdings in Inspired Entertainment by 5.7% in the fourth 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 in the last quarter. Finally, Vitruvian Partners LLP bought a new stake in Inspired Entertainment in the fourth quarter worth $29,370,000. 74.65% of the stock is currently owned by institutional investors and hedge funds.

Inspired Entertainment Company Profile

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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