ArrowMark Colorado Holdings LLC Decreases Stock Holdings in Genius Sports Limited (NYSE:GENI)

ArrowMark Colorado Holdings LLC reduced its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,250,323 shares of the company's stock after selling 63,298 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.58% of Genius Sports worth $10,815,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Genius Sports in the 4th quarter worth about $58,000. Steward Partners Investment Advisory LLC grew its position in shares of Genius Sports by 39.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after acquiring an additional 3,429 shares during the period. Perigon Wealth Management LLC purchased a new stake in shares of Genius Sports during the 4th quarter worth approximately $136,000. Envestnet Asset Management Inc. raised its holdings in shares of Genius Sports by 27.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock worth $143,000 after purchasing an additional 3,548 shares during the period. Finally, Aigen Investment Management LP purchased a new position in Genius Sports in the fourth quarter valued at approximately $163,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Stock Performance

Genius Sports stock traded down $0.48 during midday trading on Tuesday, hitting $10.53. 14,685,348 shares of the company's stock were exchanged, compared to its average volume of 2,788,871. The company has a market cap of $2.27 billion, a P/E ratio of -32.91 and a beta of 1.96. The stock has a 50-day moving average price of $9.92 and a two-hundred day moving average price of $9.19. 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 announced its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same quarter last year, the firm earned ($0.11) earnings per share. The company's revenue for the quarter was up 20.3% on a year-over-year basis. As a group, sell-side analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports announced that its board has authorized a stock repurchase program on Tuesday, May 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Lake Street Capital raised their target price on Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Genius Sports in a report on Tuesday. Guggenheim initiated coverage on shares of Genius Sports in a research note on Tuesday, March 18th. They set a "buy" rating and a $12.00 price target on the stock. B. Riley started coverage on shares of Genius Sports in a research note on Tuesday, March 18th. They issued a "buy" rating for the company. Finally, Benchmark reissued a "buy" rating and set a $12.00 target price on shares of Genius Sports in a report on Thursday, April 17th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Genius Sports has a consensus rating of "Moderate Buy" and an average price target of $12.19.

About Genius Sports

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.