Bank of America Corp DE Purchases 91,888 Shares of Genius Sports Limited (NYSE:GENI)

Bank of America Corp DE increased its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 41.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,289 shares of the company's stock after buying an additional 91,888 shares during the quarter. Bank of America Corp DE owned 0.15% of Genius Sports worth $2,701,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust acquired a new stake in Genius Sports during the fourth quarter valued at approximately $58,000. Steward Partners Investment Advisory LLC boosted its holdings in Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after purchasing an additional 3,429 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in Genius Sports during the fourth quarter valued at approximately $136,000. Envestnet Asset Management Inc. boosted its holdings in Genius Sports by 27.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock valued at $143,000 after purchasing an additional 3,548 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Genius Sports during the fourth quarter valued at approximately $163,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Stock Down 1.1%

NYSE:GENI traded down $0.11 during trading hours on Thursday, hitting $9.43. 2,492,846 shares of the stock were exchanged, compared to its average volume of 3,007,649. The company's 50 day moving average is $10.00 and its two-hundred day moving average is $9.51. Genius Sports Limited has a twelve month low of $5.09 and a twelve month high of $11.40. The company has a market capitalization of $2.03 billion, a P/E ratio of -29.45 and a beta of 1.87.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The company had revenue of $143.99 million for the quarter, compared to the consensus estimate of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm's quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.11) EPS. On average, equities research analysts expect that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports declared that its board has authorized a share buyback plan on Tuesday, May 6th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. B. Riley reaffirmed a "buy" rating on shares of Genius Sports in a report on Wednesday, May 7th. Lake Street Capital lifted their target price on shares of Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group lifted their target price on shares of Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Craig Hallum set a $15.00 target price on shares of Genius Sports in a research note on Tuesday, March 4th. Finally, BTIG Research lifted their target price on shares of Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.19.

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.