Cubist Systematic Strategies LLC Makes New $12.26 Million Investment in Genius Sports Limited $GENI

Key Points

• Cubist Systematic Strategies LLC acquired a new stake in Genius Sports Limited, purchasing 1,225,218 shares valued at approximately $12.26 million, constituting about 0.57% of the company.
• Genius Sports reported a loss of $0.21 EPS for the last quarter, missing the consensus estimate by $0.17, despite a revenue increase of 24.4% year-over-year to $118.72 million.
• The company has authorized a stock buyback plan worth $100 million, allowing it to repurchase up to 4.4% of its shares, indicating a belief that the stock may be undervalued.

Cubist Systematic Strategies LLC bought a new stake in Genius Sports Limited (NYSE:GENI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,225,218 shares of the company's stock, valued at approximately $12,264,000. Cubist Systematic Strategies LLC owned approximately 0.57% of Genius Sports as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GENI. Envestnet Asset Management Inc. lifted its position in shares of Genius Sports by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock worth $143,000 after purchasing an additional 3,548 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Genius Sports in the 4th quarter valued at $253,000. Stifel Financial Corp lifted its position in Genius Sports by 63.2% during the 4th quarter. Stifel Financial Corp now owns 116,700 shares of the company's stock worth $1,009,000 after buying an additional 45,175 shares in the last quarter. Northern Trust Corp lifted its position in Genius Sports by 103.3% during the 4th quarter. Northern Trust Corp now owns 63,510 shares of the company's stock worth $549,000 after buying an additional 32,271 shares in the last quarter. Finally, Ancora Advisors LLC boosted its stake in shares of Genius Sports by 18.8% during the 4th quarter. Ancora Advisors LLC now owns 161,000 shares of the company's stock worth $1,393,000 after buying an additional 25,500 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on GENI shares. Macquarie lifted their target price on Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JMP Securities raised their price target on Genius Sports from $13.00 to $15.00 and gave the company a "market outperform" rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Genius Sports from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. B. Riley increased their price objective on Genius Sports from $13.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Arete initiated coverage on shares of Genius Sports in a research note on Wednesday, July 9th. They issued a "buy" rating and a $15.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Genius Sports presently has a consensus rating of "Buy" and an average target price of $14.13.

Genius Sports Trading Down 0.4%

Shares of GENI traded down $0.06 during mid-day trading on Friday, reaching $13.50. The company's stock had a trading volume of 4,207,429 shares, compared to its average volume of 4,500,909. Genius Sports Limited has a 1-year low of $6.72 and a 1-year high of $13.73. The business has a 50-day simple moving average of $11.65 and a two-hundred day simple moving average of $10.46. The stock has a market cap of $2.90 billion, a P/E ratio of -43.53 and a beta of 1.87.

Genius Sports (NYSE:GENI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share 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 business had revenue of $118.72 million for the quarter, compared to analyst estimates of $118.28 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm's revenue was up 24.4% compared to the same quarter last year. Research analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

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.