Ancora Advisors LLC Acquires 247,610 Shares of Genius Sports Limited $GENI

Key Points

• Ancora Advisors increased its Genius Sports stake by 201.3% in the second quarter, purchasing 247,610 additional shares to own 370,631 shares valued at approximately $2.25 million. Institutional investors collectively own 81.91% of the company.
• Genius Sports shares traded up 3.7% to $7.45, with the stock’s 50-day and 200-day moving averages at $7.09 and $5.89, respectively.
• The company reported quarterly revenue of $195.5 million, up 64.7% year over year and above estimates, but its loss of $0.28 per share significantly missed expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $11.44.

Ancora Advisors LLC grew its stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 201.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 370,631 shares of the company's stock after buying an additional 247,610 shares during the period. Ancora Advisors LLC owned approximately 0.15% of Genius Sports worth $2,246,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prelude Capital Management LLC boosted its stake in Genius Sports by 1.3% during the third quarter. Prelude Capital Management LLC now owns 92,529 shares of the company's stock worth $1,146,000 after buying an additional 1,181 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Genius Sports by 10.0% in the 2nd quarter. Cetera Investment Advisers now owns 15,288 shares of the company's stock valued at $159,000 after purchasing an additional 1,388 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Genius Sports by 2.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company's stock valued at $802,000 after purchasing an additional 1,512 shares during the period. Main Management ETF Advisors LLC lifted its holdings in shares of Genius Sports by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 163,647 shares of the company's stock valued at $1,803,000 after acquiring an additional 1,672 shares during the period. Finally, First Dallas Securities Inc. grew its stake in Genius Sports by 3.0% during the fourth quarter. First Dallas Securities Inc. now owns 68,500 shares of the company's stock worth $755,000 after buying an additional 2,000 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Trading Up 3.7%

NYSE GENI opened at $7.45 on Thursday. The firm has a market cap of $1.83 billion, a P/E ratio of -10.95 and a beta of 1.88. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock's 50-day moving average is $7.09 and its 200-day moving average is $5.89. Genius Sports Limited has a one year low of $3.83 and a one year high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.21). Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The business had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. Genius Sports's revenue for the quarter was up 64.7% compared to the same quarter last year. Sell-side analysts anticipate that Genius Sports Limited will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GENI has been the topic of a number of research analyst reports. Weiss Ratings upgraded Genius Sports from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. Guggenheim lifted their price objective on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Roth Capital reissued a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a research note on Friday, August 7th. B. Riley Financial reiterated a "buy" rating on shares of Genius Sports in a research report on Friday, May 8th. Finally, Freedom Capital raised Genius Sports to a "strong-buy" rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.44.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

Want to see what other hedge funds are holding GENI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genius Sports Limited (NYSE:GENI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source