1060 Capital LLC Takes Position in Genius Sports Limited $GENI

Key Points

• 1060 Capital LLC has acquired a new position in Genius Sports Limited, purchasing 700,000 shares valued at approximately $7 million, making it the fund's third largest position.
• Wall Street analysts are optimistic about Genius Sports, with multiple firms recently raising their price targets, resulting in a consensus price target of $14.13 and a majority of analysts giving it a "Buy" rating.
• Despite a revenue increase of 24.4% year-over-year, Genius Sports reported a quarterly earnings per share that missed estimates, indicating ongoing challenges for the company.

1060 Capital LLC acquired a new position in shares of Genius Sports Limited (NYSE:GENI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 700,000 shares of the company's stock, valued at approximately $7,007,000. Genius Sports makes up approximately 15.9% of 1060 Capital LLC's investment portfolio, making the stock its 3rd largest holding. 1060 Capital LLC owned 0.33% of Genius Sports at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in shares of Genius Sports during the 1st quarter valued at $37,000. Pacer Advisors Inc. grew its holdings in shares of Genius Sports by 61.5% during the 1st quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock valued at $38,000 after acquiring an additional 1,430 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Genius Sports by 46.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 9,777 shares of the company's stock valued at $98,000 after acquiring an additional 3,112 shares in the last quarter. IPG Investment Advisors LLC purchased a new position in shares of Genius Sports during the 1st quarter valued at $107,000. Finally, Park National Corp OH purchased a new position in shares of Genius Sports during the 1st quarter valued at $107,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GENI. Truist Financial began coverage on shares of Genius Sports in a report on Tuesday, July 1st. They set a "buy" rating and a $14.00 price target on the stock. Northland Securities started coverage on shares of Genius Sports in a report on Friday, July 25th. They set an "outperform" rating and a $14.00 price target on the stock. Roth Capital assumed coverage on shares of Genius Sports in a research note on Friday. They issued a "buy" rating and a $16.00 price objective for the company. UBS Group increased their target price on shares of Genius Sports from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised their target price on Genius Sports from $12.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $14.22.

Genius Sports Trading Down 0.9%

Genius Sports stock traded down $0.12 on Friday, reaching $12.50. 2,767,920 shares of the stock were exchanged, compared to its average volume of 4,702,495. The stock has a market cap of $2.69 billion, a PE ratio of -40.31 and a beta of 1.87. Genius Sports Limited has a twelve month low of $6.72 and a twelve month high of $13.73. The firm has a fifty day moving average price of $11.91 and a two-hundred day moving average price of $10.60.

Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). The firm had revenue of $118.72 million for the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The firm's revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS. Equities analysts anticipate that Genius Sports Limited will post -0.1 EPS 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.