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

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

Inseego Stock Performance

Inseego stock opened at $12.84 on Tuesday. Inseego Corp. has a fifty-two week low of $1.62 and a fifty-two week high of $20.67. The company has a market capitalization of $191.96 million, a PE ratio of -7.17 and a beta of 1.60. The company has a 50 day moving average price of $17.49 and a 200-day moving average price of $12.42.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TD Cowen decreased their price objective on shares of Inseego from $20.00 to $16.00 and set a “hold” rating for the company in a research note on Friday. Stifel Nicolaus raised 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 raised Inseego from a “neutral” rating to a “buy” rating and upped their price objective for the company from $13.00 to $15.00 in a research report on Thursday, November 14th. Finally, Roth Capital upgraded Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th.

Institutional Investors Weigh In On Inseego

Hedge funds have recently made changes to their positions in the company. Aviva Holdings Ltd. purchased a new position in shares of Inseego during the third quarter valued at $41,219,000. Jane Street Group LLC increased its position in Inseego by 142.9% during the 3rd quarter. Jane Street Group LLC now owns 24,307 shares of the technology company’s stock valued at $397,000 after purchasing an additional 80,996 shares during the period. 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 stake in shares of Inseego in the 2nd quarter worth approximately $274,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Inseego during the third quarter valued at approximately $353,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

About Inseego

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.