Victory Capital Management Inc. Makes New $193,000 Investment in Inseego Corp. (NASDAQ:INSG)

Victory Capital Management Inc. bought a new position in shares of Inseego Corp. (NASDAQ:INSG) during the 4th quarter, Holdings Channel.com reports. The firm bought 18,819 shares of the technology company’s stock, valued at approximately $193,000.

Several other hedge funds have also recently bought and sold shares of INSG. Quarry LP acquired a new position in Inseego during the third quarter worth $26,000. Barclays PLC increased its position in Inseego by 71.3% during the third quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock worth $67,000 after buying an additional 1,686 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Inseego during the third quarter worth $73,000. Diversify Advisory Services LLC acquired a new position in Inseego during the fourth quarter worth $142,000. Finally, Centiva Capital LP acquired a new position in Inseego during the third quarter worth $214,000. 34.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Inseego Stock Performance

Shares of NASDAQ:INSG opened at $9.36 on Monday. The company has a market cap of $140.46 million, a P/E ratio of -15.10 and a beta of 1.62. The stock’s 50-day moving average is $11.21 and its 200-day moving average is $13.49. Inseego Corp. has a 52-week low of $2.22 and a 52-week high of $20.67.

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

Inseego 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.