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

Zacks Investment Research downgraded shares of Inspired Entertainment (NASDAQ:INSE) from a buy rating to a hold rating in a report issued 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 reports about the company. Peel Hunt reissued a buy rating and set a $8.50 price target on shares of Inspired Entertainment in a research note on Friday, July 10th. Roth Capital reaffirmed a buy rating and issued a $12.00 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. The stock has a 50 day moving average of $3.11 and a 200 day moving average of $3.87. Inspired Entertainment has a 12 month low of $1.87 and a 12 month high of $8.65. 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.14). The company had revenue of $52.30 million during the quarter, compared to the consensus estimate of $52.68 million. On average, sell-side analysts predict that Inspired Entertainment will post -2.94 earnings per share for the current year.

Several large investors have recently bought and sold shares of INSE. UBS Group AG lifted its stake in shares of Inspired Entertainment by 57.8% in the 4th quarter. UBS Group AG now owns 12,501 shares of the company’s stock valued at $84,000 after purchasing an additional 4,580 shares during the last quarter. State Street Corp lifted its stake in shares of 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 acquiring an additional 27,907 shares during the last quarter. Harvey Partners LLC lifted its stake in shares of 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 acquiring an additional 16,436 shares during the last quarter. Perennial Investment Advisors LLC bought a new stake in shares of Inspired Entertainment during the 2nd quarter worth approximately $44,000. Finally, NEXT Financial Group Inc bought a new stake in shares of Inspired Entertainment during the 2nd quarter worth approximately $32,000. 62.84% of the stock is owned by institutional investors and hedge funds.

About Inspired Entertainment

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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