Algert Global LLC Acquires New Position in Inseego Corp. (NASDAQ:INSG)

Algert Global LLC acquired a new position in shares of Inseego Corp. (NASDAQ:INSG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,410 shares of the technology company’s stock, valued at approximately $127,000. Algert Global LLC owned about 0.08% of Inseego at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INSG. WINTON GROUP Ltd acquired a new position in shares of Inseego in the fourth quarter valued at approximately $1,025,000. Renaissance Technologies LLC boosted its position in Inseego by 199.0% during the fourth quarter. Renaissance Technologies LLC now owns 117,941 shares of the technology company’s stock valued at $1,210,000 after purchasing an additional 78,495 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Inseego by 19.9% in the 4th quarter. Marshall Wace LLP now owns 371,992 shares of the technology company’s stock valued at $3,817,000 after buying an additional 61,623 shares during the last quarter. 683 Capital Management LLC acquired a new position in Inseego during the fourth quarter worth approximately $577,000. Finally, 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 during the last quarter. 34.20% of the stock is owned by institutional investors.

Inseego Stock Performance

Shares of INSG stock opened at $7.85 on Wednesday. Inseego Corp. has a fifty-two week low of $5.04 and a fifty-two week high of $20.67. The company has a market cap of $117.80 million, a PE ratio of -12.66 and a beta of 1.15. The stock’s fifty day moving average price is $8.26 and its two-hundred day moving average price is $10.90.

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

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their price objective on shares of Inseego from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, April 17th.

Inseego Company 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.