Inspired Entertainment (NASDAQ:INSE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Inspired Entertainment (NASDAQ:INSE) from a sell rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Inspired Entertainment, Inc. is a games technology company. It engaged in supplying Virtual Sports, Mobile Gaming and Server-Based Gaming systems to regulated lottery, betting and gaming operators. Inspired Entertainment Inc., formerly known as Hydra Industries Acquisition Corp, is based in New York. “

Shares of INSE stock opened at $8.13 on Wednesday. Inspired Entertainment has a twelve month low of $3.86 and a twelve month high of $9.70. The stock’s fifty day moving average price is $8.44.

Inspired Entertainment (NASDAQ:INSE) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.12). The company had revenue of $33.67 million during the quarter, compared to analyst estimates of $33.69 million. On average, analysts forecast that Inspired Entertainment will post -0.85 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Penn Capital Management Co. Inc. grew its position in Inspired Entertainment by 4.4% during the 4th quarter. Penn Capital Management Co. Inc. now owns 109,560 shares of the company’s stock worth $526,000 after acquiring an additional 4,650 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Inspired Entertainment by 42.6% in the 1st quarter. Gabelli Funds LLC now owns 98,710 shares of the company’s stock valued at $658,000 after buying an additional 29,477 shares during the last quarter. Teton Advisors Inc. grew its position in shares of Inspired Entertainment by 6.4% in the 1st quarter. Teton Advisors Inc. now owns 311,478 shares of the company’s stock valued at $2,076,000 after buying an additional 18,600 shares during the last quarter. 683 Capital Management LLC grew its position in shares of Inspired Entertainment by 5.7% in the 4th quarter. 683 Capital Management LLC now owns 801,824 shares of the company’s stock valued at $3,849,000 after buying an additional 43,394 shares during the last quarter. Finally, Vitruvian Partners LLP bought a new stake in shares of Inspired Entertainment in the 4th quarter valued at about $29,370,000. Institutional investors and hedge funds own 74.65% of the company’s stock.

Inspired Entertainment Company Profile

Inspired Entertainment, Inc, a business-to-business gaming technology company, supplies virtual sports and server based gaming worldwide. It designs, develops, markets, and distributes a portfolio of games through its digital network architecture to betting offices, casinos, gaming hall and bingo operators, and regulated operators of lotteries, as well as government affiliated and licensed operators.

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