Capital Research Global Investors Buys 1,610,078 Shares of Genius Sports Limited (NYSE:GENI)

Capital Research Global Investors raised its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,952,320 shares of the company's stock after acquiring an additional 1,610,078 shares during the quarter. Capital Research Global Investors owned about 6.02% of Genius Sports worth $112,038,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Loomis Sayles & Co. L P acquired a new stake in Genius Sports during the 4th quarter worth approximately $15,553,000. Raymond James Financial Inc. acquired a new position in shares of Genius Sports in the fourth quarter valued at about $12,332,000. Allspring Global Investments Holdings LLC bought a new position in Genius Sports during the fourth quarter worth about $11,292,000. Nixon Capital LLC acquired a new stake in Genius Sports in the 4th quarter worth about $8,463,000. Finally, JPMorgan Chase & Co. boosted its holdings in Genius Sports by 138.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock valued at $14,264,000 after purchasing an additional 957,559 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GENI. Citizens Jmp cut shares of Genius Sports from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft began coverage on Genius Sports in a research report on Monday, April 21st. They set a "buy" rating and a $12.00 price objective for the company. The Goldman Sachs Group lifted their target price on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a research report on Wednesday, March 5th. JMP Securities reissued a "market outperform" rating and set a $11.00 target price on shares of Genius Sports in a research note on Monday, January 27th. Finally, BTIG Research raised their price target on shares of Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $12.19.

Genius Sports Price Performance

NYSE GENI traded up $0.24 on Friday, reaching $10.80. The company had a trading volume of 3,101,847 shares, compared to its average volume of 2,677,886. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -33.75 and a beta of 1.98. Genius Sports Limited has a fifty-two week low of $4.91 and a fifty-two week high of $11.16. The business has a 50 day moving average of $9.66 and a two-hundred day moving average of $9.02.

Genius Sports (NYSE:GENI - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The company had revenue of $175.53 million during the quarter, compared to the consensus estimate of $175.52 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. As a group, research analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports Company 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.