National Asset Management Inc. Lowers Holdings in Inseego Corp. (NASDAQ:INSG)

National Asset Management Inc. lessened its stake in Inseego Corp. (NASDAQ:INSGGet Rating) by 27.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,600 shares of the technology company’s stock after selling 7,450 shares during the quarter. National Asset Management Inc.’s holdings in Inseego were worth $80,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in shares of Inseego by 67.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 15,300 shares of the technology company’s stock worth $89,000 after purchasing an additional 6,175 shares during the last quarter. Wedbush Securities Inc. purchased a new position in shares of Inseego in the 1st quarter worth about $42,000. Potomac Capital Management Inc. purchased a new position in shares of Inseego in the 4th quarter worth about $694,000. Virginia Retirement Systems ET AL purchased a new position in shares of Inseego in the 1st quarter worth about $205,000. Finally, Clay Northam Wealth Management LLC purchased a new position in shares of Inseego in the 1st quarter worth about $125,000. Hedge funds and other institutional investors own 47.75% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus began coverage on Inseego in a research report on Friday, May 13th. They issued a “hold” rating for the company.

Inseego Stock Performance

Shares of NASDAQ:INSG opened at $2.59 on Tuesday. Inseego Corp. has a fifty-two week low of $1.74 and a fifty-two week high of $9.61. The business has a 50-day simple moving average of $2.04 and a two-hundred day simple moving average of $3.20. The firm has a market cap of $278.75 million, a price-to-earnings ratio of -4.47 and a beta of 1.70.

Inseego (NASDAQ:INSGGet Rating) last issued its earnings results on Wednesday, May 4th. The technology company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The business had revenue of $61.38 million during the quarter, compared to analyst estimates of $62.64 million. During the same period last year, the business posted ($0.18) earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts predict that Inseego Corp. will post -0.67 earnings per share for the current year.

Inseego Profile

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Inseego Corp. engages in the design and development of fixed and mobile wireless solutions, industrial Internet of Things (IIoT), and cloud solutions for large enterprise verticals, service providers, small and medium-sized businesses, governments, and consumers worldwide. The company provides wireless 4G and 5G hardware products, including private LTE/5G networks, First responders network authority/Firstnet, SD-WAN, telematics, remote monitoring and surveillance, and fixed wireless access and mobile broadband devices.

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Institutional Ownership by Quarter for Inseego (NASDAQ:INSG)

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