Renaissance Technologies LLC Purchases New Position in Genius Sports Limited (NYSE:GENI)

Renaissance Technologies LLC bought a new stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 29,200 shares of the company's stock, valued at approximately $253,000.

A number of other large investors also recently made changes to their positions in GENI. Loomis Sayles & Co. L P purchased a new position in Genius Sports in the fourth quarter valued at about $15,553,000. Raymond James Financial Inc. acquired a new stake in shares of Genius Sports during the 4th quarter valued at about $12,332,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Genius Sports in the 4th quarter valued at approximately $11,292,000. JPMorgan Chase & Co. increased its holdings in Genius Sports by 138.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock worth $14,264,000 after buying an additional 957,559 shares during the last quarter. Finally, Trexquant Investment LP raised its position in Genius Sports by 536.3% during the fourth quarter. Trexquant Investment LP now owns 722,560 shares of the company's stock valued at $6,250,000 after acquiring an additional 609,009 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GENI shares. Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Genius Sports in a research report on Tuesday. JMP Securities reiterated a "market outperform" rating and set a $11.00 price target on shares of Genius Sports in a research note on Monday, January 27th. Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a research note on Thursday, April 17th. The Goldman Sachs Group upped their target price on Genius Sports from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research report on Monday, April 21st. They issued a "buy" rating and a $12.00 price target on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $12.19.

Genius Sports Trading Up 1.5 %

GENI traded up $0.15 on Friday, hitting $10.37. 2,966,985 shares of the stock traded hands, compared to its average volume of 2,809,465. The business has a fifty day moving average price of $10.01 and a two-hundred day moving average price of $9.23. The firm has a market capitalization of $2.23 billion, a PE ratio of -32.41 and a beta of 1.96. Genius Sports Limited has a 52 week low of $5.03 and a 52 week high of $11.40.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The business had revenue of $143.99 million for the quarter, compared to analysts' expectations of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. Genius Sports's quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. On average, equities research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Genius Sports Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.