Entropy Technologies LP Buys Shares of 90,482 Genius Sports Limited (NYSE:GENI)

Key Points

• Entropy Technologies LP has acquired a new stake in Genius Sports Limited, purchasing 90,482 shares valued at approximately $906,000.
• Genius Sports recently reported earnings of ($0.21) per share, missing estimates, but generated a 24.4% increase in quarterly revenue year-over-year, totaling $118.72 million.
• The company has initiated a $100 million share buyback program, indicating confidence in its stock valuation and plans to repurchase up to 4.4% of its shares.

Entropy Technologies LP purchased a new position in Genius Sports Limited (NYSE:GENI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 90,482 shares of the company's stock, valued at approximately $906,000.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in Genius Sports by 27.2% during the 4th 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 during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $3,476,000. Renaissance Technologies LLC bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $253,000. Rockefeller Capital Management L.P. bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $1,834,000. Finally, Jump Financial LLC bought a new stake in Genius Sports in the fourth quarter worth $2,604,000. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Stock Up 0.0%

Genius Sports stock traded up $0.01 during mid-day trading on Thursday, hitting $12.94. 4,454,031 shares of the company's stock traded hands, compared to its average volume of 4,286,163. The firm has a 50 day moving average price of $10.60 and a 200 day moving average price of $10.04. The company has a market cap of $2.78 billion, a PE ratio of -41.73 and a beta of 1.86. Genius Sports Limited has a one year low of $6.72 and a one year high of $12.98.

Genius Sports (NYSE:GENI - Get Free Report) last posted 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 firm had revenue of $118.72 million during the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) EPS. On average, analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC boosted their target price on shares of Genius Sports from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Arete Research raised Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. B. Riley lifted their price objective on Genius Sports from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. The Goldman Sachs Group boosted their price objective on Genius Sports from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Northland Capmk raised Genius Sports to a "strong-buy" rating in a report on Friday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.94.

Genius Sports 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.