Inseego Corp. (NASDAQ:INSG) Chairman Philip G. Brace Buys 10,000 Shares

Inseego Corp. (NASDAQ:INSG) Chairman Philip G. Brace bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the purchase, the chairman now owns 177,763 shares in the company, valued at $2,204,261.20. The trade was a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Inseego Price Performance

INSG traded up $1.03 during trading on Monday, reaching $12.91. 66,843 shares of the company’s stock were exchanged, compared to its average volume of 183,840. Inseego Corp. has a 1 year low of $1.62 and a 1 year high of $20.67. The company’s fifty day simple moving average is $17.49 and its 200-day simple moving average is $12.42. The stock has a market capitalization of $193.00 million, a P/E ratio of -6.60 and a beta of 1.60.

Institutional Trading of Inseego

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in Inseego during the 2nd quarter worth about $274,000. Marshall Wace LLP purchased a new stake in shares of Inseego in the second quarter worth about $833,000. Covestor Ltd acquired a new stake in Inseego during the third quarter worth about $32,000. Olympiad Research LP purchased a new position in Inseego during the third quarter valued at approximately $184,000. Finally, Barclays PLC lifted its holdings in Inseego by 71.3% in the third quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock valued at $67,000 after acquiring an additional 1,686 shares during the period. Institutional investors and hedge funds own 34.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INSG. Stifel Nicolaus boosted their price target on Inseego from $11.00 to $17.00 and gave the stock a “hold” rating in a research note on Tuesday, September 17th. Roth Mkm upgraded shares of Inseego from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.00 to $15.00 in a research note on Thursday. TD Cowen decreased their price target on shares of Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a report on Friday. Finally, Roth Capital raised shares of Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday.

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.