Channel Wealth LLC Acquires Shares of 35,204 Genius Sports Limited $GENI

Key Points

• Channel Wealth LLC has acquired a new position in Genius Sports Limited, purchasing 35,204 shares valued at approximately $366,000.
• Multiple institutional investors have significantly increased their holdings in Genius Sports, with Allspring Global Investments raising its stake by 62.7% during the first quarter.
• Genius Sports reported a missed earnings estimate of ($0.21) per share and a revenue increase of 24.4% year-over-year in its latest quarterly results.

Channel Wealth LLC bought a new stake in Genius Sports Limited (NYSE:GENI - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 35,204 shares of the company's stock, valued at approximately $366,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. raised its holdings in shares of Genius Sports by 35.8% in the second quarter. Harbor Capital Advisors Inc. now owns 233,702 shares of the company's stock valued at $2,431,000 after acquiring an additional 61,581 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Genius Sports by 20.1% in the 1st quarter. Voya Investment Management LLC now owns 2,781,888 shares of the company's stock valued at $27,847,000 after purchasing an additional 465,862 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in Genius Sports during the first quarter worth $2,152,000. 1060 Capital LLC purchased a new stake in shares of Genius Sports in the first quarter valued at $7,007,000. Finally, PharVision Advisers LLC acquired a new position in shares of Genius Sports in the first quarter worth about $118,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Price Performance

NYSE:GENI traded up $0.21 during midday trading on Friday, hitting $12.79. The company's stock had a trading volume of 4,685,033 shares, compared to its average volume of 4,487,095. The firm's 50 day moving average is $12.12 and its 200-day moving average is $10.72. Genius Sports Limited has a fifty-two week low of $6.72 and a fifty-two week high of $13.73. The firm has a market cap of $2.75 billion, a P/E ratio of -41.26 and a beta of 1.87.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GENI shares. Wall Street Zen downgraded Genius Sports from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Needham & Company LLC increased their target price on shares of Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group boosted their price objective on shares of Genius Sports from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. B. Riley upped their target price on shares of Genius Sports from $13.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Northland Capmk upgraded shares of Genius Sports to a "strong-buy" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $14.22.

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.