Inspired Entertainment (NASDAQ:INSE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage presently has a $7.50 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.70% from the stock’s previous close.
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. “
Separately, Craig Hallum boosted their target price on shares of Inspired Entertainment from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 12th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Inspired Entertainment presently has an average rating of “Buy” and an average target price of $8.75.
Inspired Entertainment (NASDAQ:INSE) last issued its quarterly earnings results on Thursday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.72. The business had revenue of $60.10 million during the quarter, compared to analyst estimates of $41.32 million. Analysts expect that Inspired Entertainment will post -2.97 EPS for the current year.
A hedge fund recently bought a new stake in Inspired Entertainment stock. Jane Street Group LLC purchased a new position in shares of Inspired Entertainment, Inc. (NASDAQ:INSE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 31,051 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned 0.13% of Inspired Entertainment at the end of the most recent quarter. 55.63% of the stock is currently owned by institutional investors.
About Inspired Entertainment
Inspired Entertainment, Inc, a business-to-business gaming technology company, supplies virtual sports and server based gaming (SBG) products to regulated lottery, betting, and gaming operators worldwide. The company operates through three segments: SBG, Virtual Sports, and Acquired Businesses. It designs, develops, markets, and distributes a portfolio of games through its digital network architecture for licensed betting offices, casinos, gaming hall operators, bingo operators, and regulated operators of lotteries, as well as government-affiliated operators.
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