Aviva Holdings Ltd. Acquires New Holdings in Inseego Corp. (NASDAQ:INSG)

Aviva Holdings Ltd. bought a new position in shares of Inseego Corp. (NASDAQ:INSG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,456,000 shares of the technology company’s stock, valued at approximately $41,219,000. Inseego accounts for 100.0% of Aviva Holdings Ltd.’s holdings, making the stock its largest position. Aviva Holdings Ltd. owned 199.15% of Inseego as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of INSG. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Inseego during the third quarter valued at about $73,000. Dynamic Technology Lab Private Ltd purchased a new stake in Inseego during the third quarter valued at approximately $353,000. Covestor Ltd purchased a new stake in Inseego during the third quarter valued at approximately $32,000. Olympiad Research LP acquired a new stake in Inseego in the third quarter valued at approximately $184,000. Finally, Marshall Wace LLP purchased a new position in Inseego in the second quarter worth $833,000. Institutional investors own 34.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on INSG. Stifel Nicolaus raised their price objective on Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. TD Cowen lowered their price target on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a report on Friday, November 15th. Roth Mkm upgraded Inseego from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research note on Thursday, November 14th. Finally, Roth Capital raised shares of Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th.

Insider Activity

In other Inseego news, Chairman Philip G. Brace acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the purchase, the chairman now owns 177,763 shares in the company, valued at approximately $2,204,261.20. The trade was a 5.96 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Inseego Price Performance

Shares of INSG stock opened at $11.94 on Monday. The business has a fifty day moving average of $16.53 and a 200 day moving average of $12.98. Inseego Corp. has a 1 year low of $1.62 and a 1 year high of $20.67. The firm has a market capitalization of $178.50 million, a price-to-earnings ratio of -6.63 and a beta of 1.60.

Inseego Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.