Inspired Entertainment (NASDAQ:INSE) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Inspired Entertainment (NASDAQ:INSE) from a buy 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. “

Other equities analysts have also issued research reports about the company. Roth Capital restated a buy rating and issued a $12.00 price target on shares of Inspired Entertainment in a research note on Friday, July 10th. Peel Hunt reiterated a buy rating and set a $8.50 price objective on shares of Inspired Entertainment in a research note on Friday, July 10th.

Shares of Inspired Entertainment stock opened at $3.30 on Wednesday. Inspired Entertainment has a twelve month low of $1.87 and a twelve month high of $8.65. The business has a 50-day moving average price of $3.11 and a 200 day moving average price of $3.87. The firm has a market cap of $75.97 million, a PE ratio of -1.49 and a beta of 1.02.

Inspired Entertainment (NASDAQ:INSE) last announced its quarterly earnings results on Monday, May 18th. The company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by ($0.14). The company had revenue of $52.30 million during the quarter, compared to analysts’ expectations of $52.68 million. Sell-side analysts anticipate that Inspired Entertainment will post -2.94 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of INSE. NEXT Financial Group Inc purchased a new stake in Inspired Entertainment during the 2nd quarter worth approximately $32,000. Perennial Investment Advisors LLC purchased a new stake in Inspired Entertainment during the 2nd quarter worth approximately $44,000. UBS Group AG increased its stake in Inspired Entertainment by 57.8% during the 4th quarter. UBS Group AG now owns 12,501 shares of the company’s stock worth $84,000 after buying an additional 4,580 shares in the last quarter. Harvey Partners LLC increased its stake in Inspired Entertainment by 13.6% during the 1st quarter. Harvey Partners LLC now owns 136,936 shares of the company’s stock worth $463,000 after buying an additional 16,436 shares in the last quarter. Finally, State Street Corp increased its stake in Inspired Entertainment by 21.4% during the 1st quarter. State Street Corp now owns 158,432 shares of the company’s stock worth $536,000 after buying an additional 27,907 shares in the last quarter. Institutional investors own 62.84% of the company’s stock.

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.

Further Reading: Outperform Rating

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