Zacks Investment Research Lowers Inspired Entertainment (NASDAQ:INSE) to Sell

Inspired Entertainment (NASDAQ:INSE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, 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. “

Shares of INSE traded up $0.04 during trading hours on Thursday, hitting $7.00. 34,419 shares of the stock were exchanged, compared to its average volume of 26,100. Inspired Entertainment has a 12-month low of $3.86 and a 12-month high of $9.70. The company has a market cap of $173.42 million, a price-to-earnings ratio of -11.29 and a beta of 1.26. The stock’s 50-day moving average price is $8.10 and its two-hundred day moving average price is $7.53.



Inspired Entertainment (NASDAQ:INSE) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.20). The company had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $30.11 million. On average, equities analysts forecast that Inspired Entertainment will post -0.85 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of INSE. Wells Fargo & Company MN purchased a new stake in shares of Inspired Entertainment during the second quarter worth approximately $132,000. Bank of New York Mellon Corp purchased a new stake in shares of Inspired Entertainment during the second quarter worth approximately $180,000. Northern Trust Corp increased its position in shares of Inspired Entertainment by 44.7% during the second quarter. Northern Trust Corp now owns 24,091 shares of the company’s stock worth $203,000 after purchasing an additional 7,447 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Inspired Entertainment during the second quarter worth approximately $211,000. Finally, Gabelli Funds LLC increased its position in shares of Inspired Entertainment by 42.6% during the first quarter. Gabelli Funds LLC now owns 98,710 shares of the company’s stock worth $658,000 after purchasing an additional 29,477 shares in the last quarter. Hedge funds and other institutional investors own 74.81% 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.

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