Wolverine Asset Management LLC Has $3.56 Million Stock Position in Inseego $INSG

Wolverine Asset Management LLC lessened its stake in Inseego (NASDAQ:INSG) by 26.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 237,742 shares of the technology company’s stock after selling 87,394 shares during the quarter. Wolverine Asset Management LLC’s holdings in Inseego were worth $3,559,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INSG. Balyasny Asset Management L.P. increased its stake in shares of Inseego by 171.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock valued at $4,137,000 after buying an additional 317,401 shares during the period. Geode Capital Management LLC raised its holdings in Inseego by 118.9% during the 2nd quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after purchasing an additional 151,970 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in Inseego by 23.6% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,313 shares of the technology company’s stock valued at $158,000 after purchasing an additional 3,685 shares during the period. FourWorld Capital Management LLC bought a new position in shares of Inseego in the 2nd quarter valued at about $109,000. Finally, New York State Common Retirement Fund bought a new position in shares of Inseego in the 2nd quarter valued at about $101,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Inseego Stock Performance

NASDAQ:INSG opened at $12.12 on Friday. Inseego has a 52-week low of $6.24 and a 52-week high of $18.11. The company has a market cap of $185.76 million, a P/E ratio of -46.62 and a beta of 1.14. The stock’s 50-day simple moving average is $11.00 and its 200 day simple moving average is $11.43.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Friday, November 7th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Inseego had a negative net margin of 0.12% and a negative return on equity of 8.87%. The company had revenue of $45.89 million during the quarter, compared to the consensus estimate of $41.86 million. As a group, equities analysts predict that Inseego will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on INSG shares. Craig Hallum set a $20.00 price target on Inseego and gave the company a “buy” rating in a research note on Monday, October 6th. Lake Street Capital started coverage on Inseego in a research note on Monday, December 15th. They issued a “buy” rating and a $17.00 target price on the stock. Wall Street Zen upgraded Inseego from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Cowen reaffirmed a “hold” rating on shares of Inseego in a research note on Thursday. Finally, Stifel Nicolaus set a $14.00 price objective on shares of Inseego and gave the stock a “hold” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.50.

Inseego Company Profile

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego’s product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.