Genius Sports Limited $GENI Holdings Decreased by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC has decreased its holdings in Genius Sports Limited by 2.2%, now owning approximately 7.8 million shares valued at about $77.9 million, making it the fund's second largest holding.
• Genius Sports reported a loss of $0.21 EPS in its recent quarterly earnings, missing analyst expectations, despite a year-over-year revenue increase of 24.4% to $118.72 million.
• Analyst ratings for Genius Sports include a "strong-buy" from Northland Capital Markets and a price target of $16.00 from Guggenheim, with an average price target of $14.13 across 18 analysts.

Granahan Investment Management LLC decreased its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 7,785,387 shares of the company's stock after selling 178,304 shares during the period. Genius Sports makes up approximately 3.9% of Granahan Investment Management LLC's investment portfolio, making the stock its 2nd largest holding. Granahan Investment Management LLC owned 3.62% of Genius Sports worth $77,932,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Genius Sports during the first quarter worth about $37,000. Pacer Advisors Inc. grew its stake in shares of Genius Sports by 61.5% during the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after acquiring an additional 1,430 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Genius Sports by 46.7% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 9,777 shares of the company's stock worth $98,000 after purchasing an additional 3,112 shares during the period. IPG Investment Advisors LLC acquired a new stake in shares of Genius Sports during the first quarter worth about $107,000. Finally, Park National Corp OH acquired a new stake in shares of Genius Sports during the first quarter worth about $107,000. Hedge funds and other institutional investors own 81.91% of the company's stock.

Wall Street Analyst Weigh In

GENI has been the subject of a number of research reports. Northland Capmk raised Genius Sports to a "strong-buy" rating in a report on Friday, July 25th. Citigroup reiterated an "outperform" rating on shares of Genius Sports in a research report on Wednesday. Guggenheim set a $16.00 price target on Genius Sports and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen lowered Genius Sports from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Arete assumed coverage on Genius Sports in a report on Wednesday, July 9th. They issued a "buy" rating and a $15.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $14.13.

Genius Sports Price Performance

NYSE GENI opened at $13.05 on Thursday. The company has a market cap of $2.81 billion, a PE ratio of -42.08 and a beta of 1.87. Genius Sports Limited has a 1-year low of $6.72 and a 1-year high of $13.60. The stock's 50 day simple moving average is $11.53 and its 200-day simple moving average is $10.41.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The firm 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 company's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm earned ($0.09) EPS. On average, equities research analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

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.

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