Resources Investment Advisors LLC. Makes New Investment in Inseego Corp. (NASDAQ:INSG)

Resources Investment Advisors LLC. acquired a new position in shares of Inseego Corp. (NASDAQ:INSG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 11,514 shares of the technology company’s stock, valued at approximately $116,000.

Several other hedge funds have also recently modified their holdings of INSG. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Inseego by 103.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 2,650 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,350 shares during the last quarter. SRS Capital Advisors Inc. purchased a new position in shares of Inseego during the second quarter worth about $71,000. Bank of Montreal Can grew its holdings in shares of Inseego by 131.0% during the first quarter. Bank of Montreal Can now owns 9,590 shares of the technology company’s stock worth $90,000 after purchasing an additional 40,491 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Inseego during the first quarter worth about $100,000. Finally, Wellington Shields & Co. LLC purchased a new position in shares of Inseego during the first quarter worth about $101,000. 45.85% of the stock is currently owned by institutional investors.

Shares of INSG opened at $7.93 on Wednesday. Inseego Corp. has a twelve month low of $7.13 and a twelve month high of $21.93. The stock’s 50 day moving average is $8.57 and its two-hundred day moving average is $9.14. The firm has a market capitalization of $818.23 million, a PE ratio of -15.25 and a beta of 1.62.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Wednesday, August 4th. The technology company reported ($0.08) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The business had revenue of $65.69 million during the quarter, compared to analysts’ expectations of $57.81 million. During the same period in the prior year, the firm posted ($0.01) EPS. Inseego’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, equities analysts predict that Inseego Corp. will post -0.49 EPS for the current fiscal year.

INSG has been the topic of a number of research reports. Roth Capital lowered their price target on Inseego from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, August 5th. Zacks Investment Research lowered Inseego from a “hold” rating to a “sell” rating in a report on Tuesday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Inseego has an average rating of “Hold” and a consensus target price of $11.25.

About Inseego

Inseego Corp. engages in the business of communications equipment. The firm’s products include mobile hotspots, industrial gateways and routers, home and enterprise routers, industrial USB modems, and telematics and mobile tracking hardware devices. Its SaaS platforms include Ctrack, an asset tracking and management solution that delivers business intelligence for fleets used in various verticals, including aviation, construction, government, and transport; and Device Management Solutions, a hosted subscription management platform.

Further Reading: ESG Score

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Institutional Ownership by Quarter for Inseego (NASDAQ:INSG)

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