Inspired Entertainment, Inc. (NASDAQ:INSE) Sees Significant Growth in Short Interest

Inspired Entertainment, Inc. (NASDAQ:INSE) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 547,400 shares, a growth of 7.6% from the January 15th total of 508,800 shares. Based on an average trading volume of 130,500 shares, the short-interest ratio is presently 4.2 days. Currently, 2.3% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $14.00 price objective on shares of Inspired Entertainment in a research report on Monday, January 27th.

Inspired Entertainment Stock Performance

Inspired Entertainment stock traded up $0.02 during trading hours on Monday, hitting $10.95. The company had a trading volume of 119,703 shares, compared to its average volume of 122,410. The firm has a market cap of $291.05 million, a P/E ratio of -1,093.91 and a beta of 1.40. The company has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $9.31. Inspired Entertainment has a 1 year low of $7.51 and a 1 year high of $11.23.

Institutional Trading of Inspired Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the stock. SkyView Investment Advisors LLC grew its position in shares of Inspired Entertainment by 4.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 27,674 shares of the company’s stock worth $257,000 after buying an additional 1,174 shares in the last quarter. Millennium Management LLC lifted its stake in Inspired Entertainment by 8.9% in the fourth quarter. Millennium Management LLC now owns 15,713 shares of the company’s stock worth $142,000 after acquiring an additional 1,287 shares during the period. Clarus Group Inc. lifted its stake in Inspired Entertainment by 12.0% in the fourth quarter. Clarus Group Inc. now owns 14,019 shares of the company’s stock worth $127,000 after acquiring an additional 1,500 shares during the period. State Street Corp grew its holdings in Inspired Entertainment by 0.7% during the 3rd quarter. State Street Corp now owns 405,625 shares of the company’s stock worth $3,760,000 after acquiring an additional 2,675 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Inspired Entertainment by 51.0% during the 4th quarter. Wells Fargo & Company MN now owns 10,350 shares of the company’s stock valued at $94,000 after purchasing an additional 3,494 shares during the period. Institutional investors own 77.38% of the company’s stock.

About Inspired Entertainment

Inspired Entertainment, Inc, a gaming technology company, engages in the supply of content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide. It operates in 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.