AMI Asset Management Corp Cuts Stock Holdings in Genius Sports Limited $GENI

Key Points

• AMI Asset Management Corp reduced its stake in Genius Sports Limited by 28.9% during Q2, selling 32,418 shares, leaving it with 79,942 shares valued at approximately $831,000.
• Additionally, prominent hedge funds like Millennium Management and Allspring Global Investments have recently initiated or increased their positions in Genius Sports, highlighting significant institutional interest.
• Despite reporting a quarterly revenue of $118.72 million—a 24.4% increase year-over-year—Genius Sports missed earnings per share estimates by $0.17, indicating ongoing financial challenges.

AMI Asset Management Corp trimmed its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 28.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,942 shares of the company's stock after selling 32,418 shares during the quarter. AMI Asset Management Corp's holdings in Genius Sports were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC purchased a new position in shares of Genius Sports in the 4th quarter worth about $1,425,000. Two Sigma Investments LP purchased a new position in shares of Genius Sports in the 4th quarter worth about $227,000. Greenwood Capital Associates LLC purchased a new position in shares of Genius Sports in the 1st quarter worth about $518,000. Exchange Traded Concepts LLC boosted its holdings in shares of Genius Sports by 3.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 407,297 shares of the company's stock worth $4,077,000 after buying an additional 13,122 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Genius Sports by 62.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company's stock worth $21,683,000 after buying an additional 833,335 shares during the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GENI has been the topic of a number of research analyst reports. Macquarie boosted their price target on shares of Genius Sports from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. 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 objective on the stock. Citigroup reiterated an "outperform" rating on shares of Genius Sports in a research report on Wednesday, September 3rd. Arete Research upgraded shares of Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. Finally, Needham & Company LLC increased their target price on shares of Genius Sports from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Three equities 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, Genius Sports has a consensus rating of "Buy" and a consensus target price of $14.22.

Genius Sports Stock Down 2.5%

Shares of NYSE:GENI opened at $12.08 on Thursday. Genius Sports Limited has a twelve month low of $6.72 and a twelve month high of $13.73. The firm has a market capitalization of $2.60 billion, a PE ratio of -38.95 and a beta of 1.85. The company has a 50-day moving average price of $12.44 and a two-hundred day moving average price of $10.90.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share (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 during the quarter, compared to analysts' expectations of $118.28 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company's quarterly revenue was up 24.4% compared to the same quarter last year. Analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

About Genius Sports

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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