Insider Buying: Inseego Corp. (NASDAQ:INSG) Chairman Buys 10,000 Shares of Stock

Inseego Corp. (NASDAQ:INSG) Chairman Philip G. Brace purchased 10,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the acquisition, the chairman now owns 177,763 shares of the company’s stock, valued at approximately $2,204,261.20. The trade was a 5.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Inseego Trading Up 8.7 %

Shares of INSG traded up $1.03 during mid-day trading on Monday, hitting $12.91. The company’s stock had a trading volume of 66,843 shares, compared to its average volume of 183,840. The company’s 50-day moving average is $17.49 and its 200-day moving average is $12.42. Inseego Corp. has a 52-week low of $1.62 and a 52-week high of $20.67. The firm has a market capitalization of $193.00 million, a price-to-earnings ratio of -6.60 and a beta of 1.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in INSG. Aviva Holdings Ltd. purchased a new stake in shares of Inseego during the 3rd quarter worth $41,219,000. Geode Capital Management LLC lifted its position in shares of Inseego by 7.6% during the third quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company’s stock valued at $1,704,000 after buying an additional 7,325 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Inseego in the 2nd quarter valued at about $833,000. Renaissance Technologies LLC purchased a new position in shares of Inseego in the 2nd quarter worth approximately $274,000. Finally, Jane Street Group LLC raised its stake in shares of Inseego by 142.9% during the 3rd quarter. Jane Street Group LLC now owns 24,307 shares of the technology company’s stock worth $397,000 after acquiring an additional 80,996 shares in the last quarter. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on INSG shares. Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $15.00 in a research report on Thursday. Stifel Nicolaus boosted their price target on Inseego from $11.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Roth Capital upgraded Inseego from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, TD Cowen lowered their target price on Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a report on Friday.

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.