Inspired Entertainment, Inc. (NASDAQ:INSE) Short Interest Up 15.1% in August

Inspired Entertainment, Inc. (NASDAQ:INSE) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 275,700 shares, a growth of 15.1% from the August 15th total of 239,500 shares. Based on an average daily trading volume, of 90,300 shares, the days-to-cover ratio is currently 3.1 days. Currently, 1.1% of the shares of the company are sold short.

Inspired Entertainment Stock Down 0.6 %

Shares of INSE traded down $0.07 during trading hours on Tuesday, hitting $12.18. The company had a trading volume of 23,916 shares, compared to its average volume of 127,916. Inspired Entertainment has a 52-week low of $8.63 and a 52-week high of $16.44. The firm has a market cap of $320.82 million, a P/E ratio of 20.76 and a beta of 1.55. The stock’s 50 day moving average price is $12.88 and its 200 day moving average price is $13.36.

Inspired Entertainment (NASDAQ:INSE) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.09). Inspired Entertainment had a negative return on equity of 38.27% and a net margin of 5.74%. The company had revenue of $80.40 million during the quarter, compared to the consensus estimate of $75.27 million. On average, research analysts expect that Inspired Entertainment will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Inspired Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Portolan Capital Management LLC increased its stake in Inspired Entertainment by 104.1% in the 1st quarter. Portolan Capital Management LLC now owns 489,720 shares of the company’s stock worth $6,024,000 after buying an additional 249,794 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Inspired Entertainment by 250.3% in the 1st quarter. Ameriprise Financial Inc. now owns 338,480 shares of the company’s stock valued at $4,329,000 after acquiring an additional 241,866 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Inspired Entertainment by 497.8% in the 1st quarter. Federated Hermes Inc. now owns 273,357 shares of the company’s stock valued at $3,496,000 after acquiring an additional 227,632 shares during the last quarter. State Street Corp lifted its holdings in shares of Inspired Entertainment by 221.9% in the 2nd quarter. State Street Corp now owns 267,868 shares of the company’s stock valued at $2,306,000 after acquiring an additional 184,648 shares during the last quarter. Finally, Harbert Fund Advisors Inc. bought a new position in shares of Inspired Entertainment in the 4th quarter valued at about $1,960,000. 82.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities reduced their price target on Inspired Entertainment from $20.00 to $19.00 in a research report on Monday, July 17th.

Inspired Entertainment Company Profile

Inspired Entertainment, Inc, a gaming technology company, engages in the supply of content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide. It operates in four segments: Gaming, Virtual Sports, Interactive, and Leisure. The Gaming segment supplies gaming terminals and software to betting offices, casinos, gaming halls, and high street adult gaming centers; a portfolio of games through its digital terminals under the Centurion and Super Hot Fruits names; and traditional casino games, such as roulette, blackjack, and number games.