Formidable Asset Management LLC Makes New Investment in Inseego Corp. (NASDAQ:INSG)

Formidable Asset Management LLC acquired a new position in shares of Inseego Corp. (NASDAQ:INSG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,180 shares of the technology company’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Moors & Cabot Inc. acquired a new position in shares of Inseego in the 3rd quarter valued at about $578,000. EP Wealth Advisors LLC acquired a new position in shares of Inseego in the 2nd quarter valued at about $102,000. Teacher Retirement System of Texas acquired a new position in shares of Inseego in the 3rd quarter valued at about $80,000. Quantinno Capital Management LP acquired a new position in shares of Inseego in the 2nd quarter valued at about $124,000. Finally, Amalgamated Bank acquired a new position in shares of Inseego in the 2nd quarter valued at about $127,000. Hedge funds and other institutional investors own 67.39% of the company’s stock.

Shares of INSG opened at $4.98 on Friday. The company has a market capitalization of $523.55 million, a price-to-earnings ratio of -9.05 and a beta of 1.54. Inseego Corp. has a fifty-two week low of $4.83 and a fifty-two week high of $21.93. The business’s 50-day moving average is $6.30 and its 200-day moving average is $7.38.

Inseego (NASDAQ:INSG) last issued its earnings results on Wednesday, November 3rd. The technology company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $66.22 million during the quarter, compared to analyst estimates of $65.16 million. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, equities analysts predict that Inseego Corp. will post -0.47 earnings per share for the current year.

In other news, President Ashish Sharma purchased 5,000 shares of the stock in a transaction that occurred on Monday, November 22nd. The stock was acquired at an average price of $6.90 per share, with a total value of $34,500.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dan Mondor purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, November 16th. The stock was purchased at an average cost of $6.81 per share, with a total value of $68,100.00. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

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.

Read More: What is total return in investing?

Want to see what other hedge funds are holding INSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inseego Corp. (NASDAQ:INSG).

Institutional Ownership by Quarter for Inseego (NASDAQ:INSG)

Receive News & Ratings for Inseego Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego and related companies with MarketBeat.com's FREE daily email newsletter.