Allspring Global Investments Holdings LLC Grows Stock Position in Genius Sports Limited $GENI

Key Points

• Allspring Global Investments Holdings LLC has increased its stake in Genius Sports Limited (GENI) by 33.6% during the 2nd quarter, now owning approximately 1.34% of the company valued at $29.2 million.
• Genius Sports reported earnings with negative EPS of ($0.21), missing analysts' expectations but showed a 24.4% year-over-year revenue growth with $118.72 million for the quarter.
• Wall Street analysts maintain a generally positive outlook on Genius Sports, with a current average rating of "Moderate Buy" and a price target around $14.22.

Allspring Global Investments Holdings LLC increased its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 33.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,888,686 shares of the company's stock after buying an additional 726,843 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.34% of Genius Sports worth $29,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its stake in shares of Genius Sports by 67.0% in the first quarter. D.A. Davidson & CO. now owns 89,551 shares of the company's stock valued at $896,000 after buying an additional 35,943 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Genius Sports by 194.9% in the first quarter. Envestnet Asset Management Inc. now owns 48,904 shares of the company's stock valued at $490,000 after buying an additional 32,322 shares in the last quarter. IFC Advisors LLC grew its stake in shares of Genius Sports by 6.8% in the first quarter. IFC Advisors LLC now owns 2,735,155 shares of the company's stock valued at $27,379,000 after buying an additional 173,171 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Genius Sports in the first quarter valued at about $906,000. Finally, Quantbot Technologies LP grew its stake in shares of Genius Sports by 1,259.8% in the first quarter. Quantbot Technologies LP now owns 397,484 shares of the company's stock valued at $3,979,000 after buying an additional 368,254 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Stock Up 4.2%

NYSE:GENI opened at $12.22 on Thursday. The business's 50 day moving average is $12.56 and its two-hundred day moving average is $11.01. Genius Sports Limited has a 52 week low of $6.72 and a 52 week high of $13.73. The company has a market cap of $2.63 billion, a PE ratio of -39.40 and a beta of 1.85.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GENI. Roth Capital began coverage on Genius Sports in a research note on Friday, September 12th. They issued a "buy" rating and a $16.00 target price for the company. Needham & Company LLC increased their target price on Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Weiss Ratings restated a "sell (d)" rating on shares of Genius Sports in a research note on Tuesday. Guggenheim set a $16.00 price objective on Genius Sports and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered Genius Sports from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.22.

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.

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