212,688 Shares in Genius Sports Limited $GENI Acquired by Algert Global LLC

Key Points

• Algert Global LLC has acquired a stake in Genius Sports Limited, purchasing 212,688 shares valued at approximately $2.13 million, increasing its ownership to 0.10% of the company.
• Genius Sports reported $118.72 million in revenue for the last quarter, which surpassed analyst estimates, although it posted a loss with an EPS of ($0.21).
• The company has initiated a stock buyback plan of $100 million, which is often interpreted as a sign that management believes the stock is undervalued.

Algert Global LLC acquired a new stake in Genius Sports Limited (NYSE:GENI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 212,688 shares of the company's stock, valued at approximately $2,129,000. Algert Global LLC owned 0.10% of Genius Sports as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Granahan Investment Management LLC grew its holdings in Genius Sports by 0.8% during the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company's stock worth $68,886,000 after acquiring an additional 64,752 shares during the period. Divisadero Street Capital Management LP boosted its position in Genius Sports by 32,386.5% during the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock worth $30,723,000 after purchasing an additional 3,540,818 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Genius Sports by 22.1% during the fourth quarter. Driehaus Capital Management LLC now owns 2,889,112 shares of the company's stock worth $24,991,000 after purchasing an additional 522,441 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Genius Sports during the fourth quarter worth approximately $24,712,000. Finally, IFC Advisors LLC boosted its position in Genius Sports by 6.8% during the first quarter. IFC Advisors LLC now owns 2,735,155 shares of the company's stock worth $27,379,000 after purchasing an additional 173,171 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on GENI. Northland Securities began coverage on Genius Sports in a research report on Friday, July 25th. They set an "outperform" rating and a $14.00 price target on the stock. JMP Securities set a $13.00 price target on Genius Sports and gave the stock a "market outperform" rating in a research report on Monday, June 30th. Macquarie increased their price target on Genius Sports from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Truist Financial began coverage on Genius Sports in a research report on Tuesday, July 1st. They set a "buy" rating and a $14.00 price target on the stock. Finally, Citigroup reiterated a "buy" rating and set a $16.00 price target (up previously from $12.00) on shares of Genius Sports in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Genius Sports currently has a consensus rating of "Buy" and a consensus price target of $14.00.

Genius Sports Stock Down 1.8%

Shares of NYSE GENI traded down $0.24 during midday trading on Wednesday, hitting $12.81. The stock had a trading volume of 4,244,278 shares, compared to its average volume of 6,479,183. The company has a market capitalization of $2.76 billion, a PE ratio of -41.31 and a beta of 1.86. The stock has a 50 day simple moving average of $11.23 and a 200-day simple moving average of $10.30. Genius Sports Limited has a 1 year low of $6.72 and a 1 year high of $13.24.

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 the consensus estimate of ($0.04) by ($0.17). The firm had revenue of $118.72 million during the quarter, compared to analysts' expectations of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The business's revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) EPS. As a group, analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its board has authorized a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is 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.