Arrowstreet Capital Limited Partnership Has $1.63 Million Position in Inseego Corp. (NASDAQ:INSG)

Arrowstreet Capital Limited Partnership grew its holdings in Inseego Corp. (NASDAQ:INSG) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 158,673 shares of the technology company’s stock after buying an additional 5,992 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.06% of Inseego worth $1,628,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Inseego by 6,510.5% in the third quarter. JPMorgan Chase & Co. now owns 34,044 shares of the technology company’s stock valued at $556,000 after purchasing an additional 33,529 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Inseego by 7.6% during the third quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company’s stock worth $1,704,000 after acquiring an additional 7,325 shares during the last quarter. Barclays PLC lifted its stake in shares of Inseego by 71.3% during the third quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock valued at $67,000 after acquiring an additional 1,686 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Inseego by 28.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 34,955 shares of the technology company’s stock valued at $359,000 after acquiring an additional 7,744 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Inseego in the fourth quarter valued at about $60,000. 34.20% of the stock is owned by institutional investors.

Inseego Stock Down 5.7 %

Shares of INSG opened at $7.15 on Friday. Inseego Corp. has a twelve month low of $2.22 and a twelve month high of $20.67. The stock has a market capitalization of $107.29 million, a P/E ratio of -11.53 and a beta of 1.79. The company has a 50 day moving average of $10.04 and a 200-day moving average of $12.56.

Inseego (NASDAQ:INSG) last posted its quarterly earnings results on Wednesday, February 19th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The company had revenue of $48.09 million during the quarter, compared to the consensus estimate of $45.56 million. Inseego had a net margin of 2.22% and a negative return on equity of 4.08%. On average, sell-side analysts anticipate that Inseego Corp. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered their price target on shares of Inseego from $17.00 to $12.00 and set a “hold” rating for the company in a research report on Friday, December 20th.

About Inseego

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.