BlackRock Inc. Has $13.98 Million Stock Position in Inseego Corp (NASDAQ:INSG)

BlackRock Inc. grew its position in Inseego Corp (NASDAQ:INSG) by 229.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,918,234 shares of the technology company’s stock after buying an additional 2,031,809 shares during the quarter. BlackRock Inc.’s holdings in Inseego were worth $13,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC boosted its holdings in shares of Inseego by 71.2% in the second quarter. Advisory Services Network LLC now owns 10,820 shares of the technology company’s stock worth $52,000 after buying an additional 4,500 shares during the period. RVW Wealth LLC acquired a new position in shares of Inseego in the second quarter worth about $48,000. Chicago Capital LLC acquired a new position in shares of Inseego in the second quarter worth about $96,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Inseego by 666.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 106,603 shares of the technology company’s stock worth $511,000 after buying an additional 92,703 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Inseego by 323.7% in the second quarter. Bank of New York Mellon Corp now owns 155,048 shares of the technology company’s stock worth $742,000 after purchasing an additional 118,450 shares in the last quarter. Institutional investors own 47.96% of the company’s stock.

A number of analysts have recently issued reports on INSG shares. Canaccord Genuity set a $7.00 price target on shares of Inseego and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Northland Securities set a $6.00 price target on shares of Inseego and gave the stock a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research raised shares of Inseego from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 9th. National Securities reissued a “buy” rating and issued a $5.50 price target on shares of Inseego in a research report on Wednesday, August 7th. Finally, ValuEngine lowered shares of Inseego from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Inseego presently has a consensus rating of “Buy” and a consensus price target of $6.25.

NASDAQ INSG opened at $5.20 on Friday. The company has a 50 day simple moving average of $4.77 and a 200-day simple moving average of $4.70. The firm has a market capitalization of $399.29 million, a price-to-earnings ratio of -43.33 and a beta of 0.66. Inseego Corp has a 52-week low of $3.30 and a 52-week high of $6.00.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The firm had revenue of $55.89 million for the quarter, compared to analyst estimates of $53.11 million. Inseego’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business earned ($0.11) earnings per share. As a group, equities research analysts predict that Inseego Corp will post -0.44 EPS for the current fiscal year.

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 that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.

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Institutional Ownership by Quarter for Inseego (NASDAQ:INSG)

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