Short Interest in Inspired Entertainment, Inc. (NASDAQ:INSE) Decreases By 29.6%

Inspired Entertainment, Inc. (NASDAQ:INSE – Get Rating) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 165,400 shares, a decline of 29.6% from the March 15th total of 234,900 shares. Based on an average trading volume of 154,700 shares, the short-interest ratio is currently 1.1 days. Currently, 0.8% of the shares of the company are short sold.

INSE traded down $0.13 during trading on Monday, hitting $10.55. 8,625 shares of the stock traded hands, compared to its average volume of 173,335. Inspired Entertainment has a twelve month low of $7.40 and a twelve month high of $15.81. The business’s 50 day moving average is $13.05.

Inspired Entertainment (NASDAQ:INSE – Get Rating) last announced its quarterly earnings results on Friday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.10). During the same period in the prior year, the business posted $0.49 EPS. Equities analysts expect that Inspired Entertainment will post 0.53 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley boosted its position in shares of Inspired Entertainment by 108.9% during the 2nd quarter. Morgan Stanley now owns 320,798 shares of the company’s stock worth $4,090,000 after purchasing an additional 167,213 shares in the last quarter. Cowen Prime Advisors LLC raised its holdings in shares of Inspired Entertainment by 374.0% in the 3rd quarter. Cowen Prime Advisors LLC now owns 237,000 shares of the company’s stock worth $2,773,000 after acquiring an additional 187,000 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Inspired Entertainment in the 3rd quarter worth about $34,000. Russell Investments Group Ltd. raised its holdings in shares of Inspired Entertainment by 4.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,095,402 shares of the company’s stock worth $12,814,000 after acquiring an additional 45,725 shares during the last quarter. Finally, Barclays PLC increased its stake in Inspired Entertainment by 291.9% in the 3rd quarter. Barclays PLC now owns 3,174 shares of the company’s stock valued at $37,000 after buying an additional 2,364 shares during the last quarter. 97.10% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded shares of Inspired Entertainment from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, March 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inspired Entertainment currently has a consensus rating of “Buy” and an average price target of $18.50.

Inspired Entertainment Company Profile (Get Rating)

Inspired Entertainment, Inc, a business-to-business gaming technology company, supplies content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide. The company operates through four segments: Gaming, Virtual Sports, Interactive, and Leisure. The Gaming segment supplies gaming terminals and software to betting offices, casinos, gaming halls, and high street adult gaming centers; a portfolio of games through its digital terminals under the Centurion and Super Hot Fruits names; and traditional casino games, such as roulette, blackjack, and number games.

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