Formidable Asset Management LLC Purchases New Stake in Inseego Corp. (NASDAQ:INSG)

Formidable Asset Management LLC purchased a new stake in Inseego Corp. (NASDAQ:INSG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,180 shares of the technology company’s stock, valued at approximately $88,000.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Inseego by 24.2% during the second quarter. BlackRock Inc. now owns 6,294,798 shares of the technology company’s stock worth $63,514,000 after buying an additional 1,226,735 shares during the last quarter. Morgan Stanley boosted its holdings in Inseego by 115.0% during the second quarter. Morgan Stanley now owns 498,506 shares of the technology company’s stock worth $5,030,000 after buying an additional 266,607 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Inseego by 6.3% during the second quarter. Vanguard Group Inc. now owns 4,472,526 shares of the technology company’s stock worth $45,128,000 after buying an additional 264,621 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in Inseego by 293.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 200,603 shares of the technology company’s stock worth $2,024,000 after buying an additional 149,628 shares during the last quarter. Finally, State Street Corp boosted its holdings in Inseego by 10.0% during the second quarter. State Street Corp now owns 1,647,021 shares of the technology company’s stock worth $16,618,000 after buying an additional 149,411 shares during the last quarter. Institutional investors and hedge funds own 67.39% of the company’s stock.

In other Inseego news, CEO Dan Mondor purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 16th. The shares were bought at an average price of $6.81 per share, with a total value of $68,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Ashish Sharma purchased 5,000 shares of the company’s stock in a transaction dated Monday, November 22nd. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $34,500.00. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

Shares of INSG opened at $4.98 on Friday. Inseego Corp. has a 1 year low of $4.83 and a 1 year high of $21.93. The stock has a market cap of $523.55 million, a P/E ratio of -9.05 and a beta of 1.54. The stock’s 50-day moving average price is $6.30 and its two-hundred day moving average price is $7.38.

Inseego (NASDAQ:INSG) last issued its earnings results on Wednesday, November 3rd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.03. The company had revenue of $66.22 million for the quarter, compared to the consensus estimate of $65.16 million. During the same quarter last year, the business posted ($0.06) EPS. Equities analysts expect that Inseego Corp. will post -0.47 earnings per share for the current fiscal year.

Inseego Company Profile

Inseego Corp. engages in the business of communications equipment. The firm’s products include mobile hotspots, industrial gateways and routers, home and enterprise routers, industrial USB modems, and telematics and mobile tracking hardware devices. Its SaaS platforms include Ctrack, an asset tracking and management solution that delivers business intelligence for fleets used in various verticals, including aviation, construction, government, and transport; and Device Management Solutions, a hosted subscription management platform.

Read More: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Inseego (NASDAQ:INSG)

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