Roubaix Capital LLC Makes New Investment in Genius Sports Limited $GENI

Key Points

• Roubaix Capital LLC has acquired 599,485 shares of Genius Sports Limited, valued at approximately $6 million, making it the firm's 4th biggest position in their investment portfolio.
• Several research analysts have rated Genius Sports with a consensus target price of $13.94 and a majority of analysts assigning a "buy" or "strong buy" rating, indicating positive sentiment towards the stock.
• Genius Sports recently announced a $100 million stock repurchase plan, suggesting that the board believes the shares are undervalued.

Roubaix Capital LLC bought a new stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 599,485 shares of the company's stock, valued at approximately $6,001,000. Genius Sports makes up about 3.1% of Roubaix Capital LLC's holdings, making the stock its 4th largest position. Roubaix Capital LLC owned about 0.28% of Genius Sports as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Genius Sports by 4.6% in the first quarter. Victory Capital Management Inc. now owns 24,854 shares of the company's stock valued at $249,000 after buying an additional 1,085 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Genius Sports by 61.5% in 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 during the last quarter. OneDigital Investment Advisors LLC raised its holdings in Genius Sports by 2.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 57,732 shares of the company's stock valued at $578,000 after acquiring an additional 1,652 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Genius Sports by 9.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,849 shares of the company's stock valued at $259,000 after acquiring an additional 2,314 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Genius Sports by 19.4% in the fourth quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock valued at $148,000 after purchasing an additional 2,787 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Analyst Upgrades and Downgrades

GENI has been the subject of several recent research reports. Wall Street Zen cut Genius Sports from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Citigroup restated a "buy" rating and set a $16.00 price target (up previously from $12.00) on shares of Genius Sports in a report on Tuesday, August 12th. Needham & Company LLC raised their target price on Genius Sports from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Guggenheim set a $16.00 price objective on Genius Sports and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Arete began coverage on Genius Sports in a research report on Wednesday, July 9th. They set a "buy" rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $14.00.

Genius Sports Price Performance

Shares of GENI stock traded up $0.0050 during trading on Thursday, reaching $12.6450. The company's stock had a trading volume of 3,572,846 shares, compared to its average volume of 4,305,288. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -40.79 and a beta of 1.86. The stock's 50-day moving average price is $10.94 and its 200 day moving average price is $10.17. Genius Sports Limited has a 1-year low of $6.72 and a 1-year high of $13.10.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. On average, sell-side analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports declared that its Board of Directors has approved a share buyback program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

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.