Allspring Global Investments Holdings LLC raised its holdings in Genius Sports Limited (NYSE:GENI - Free Report) by 62.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,161,843 shares of the company's stock after purchasing an additional 833,335 shares during the period. Allspring Global Investments Holdings LLC owned about 1.00% of Genius Sports worth $21,683,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Genius Sports in the fourth quarter worth approximately $12,332,000. JPMorgan Chase & Co. lifted its position in Genius Sports by 138.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock worth $14,264,000 after buying an additional 957,559 shares in the last quarter. Nixon Capital LLC purchased a new position in Genius Sports during the fourth quarter worth approximately $8,463,000. Greenwood Capital Associates LLC purchased a new position in Genius Sports during the first quarter worth approximately $518,000. Finally, Granahan Investment Management LLC lifted its position 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 buying an additional 64,752 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on GENI. B. Riley restated a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Genius Sports in a research report on Monday, April 21st. They issued a "buy" rating and a $12.00 target price on the stock. Guggenheim began coverage on Genius Sports in a research report on Tuesday, March 18th. They issued a "buy" rating and a $12.00 target price on the stock. Benchmark restated a "buy" rating and issued a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. Finally, Citigroup restated an "outperform" rating on shares of Genius Sports in a research report on Monday, June 30th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.46.
View Our Latest Report on GENI
Genius Sports Price Performance
Shares of GENI stock traded up $0.31 on Friday, hitting $10.05. The stock had a trading volume of 1,751,626 shares, compared to its average volume of 3,358,913. The firm has a market capitalization of $2.16 billion, a P/E ratio of -52.89 and a beta of 1.86. Genius Sports Limited has a 1 year low of $5.31 and a 1 year high of $11.40. The company's 50 day moving average price is $10.04 and its 200-day moving average price is $9.58.
Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.90% and a negative net margin of 8.54%. The firm had revenue of $143.99 million for the quarter, compared to the consensus estimate of $143.31 million. During the same quarter in the previous year, the business earned ($0.11) EPS. The company's quarterly revenue was up 20.3% compared to the same quarter last year. On average, equities analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.
Genius Sports declared that its board has approved a stock buyback program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Genius Sports Company Profile
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Free Report)
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.
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