Genius Sports Limited $GENI is IFC Advisors LLC's 4th Largest Position

Key Points

• IFC Advisors LLC has increased its stake in Genius Sports Limited by 5%, making it the firm's 4th largest position at approximately 2.87 million shares valued at nearly $30 million.
• Genius Sports has received various rating upgrades from analysts, with price targets reaching as high as $15.00, demonstrating growing confidence in the company's performance.
• The company reported a revenue increase of 24.4% year-over-year, although it missed earnings expectations for the latest quarter, indicating ongoing challenges alongside growth.

IFC Advisors LLC lifted its position in Genius Sports Limited (NYSE:GENI - Free Report) by 5.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,871,110 shares of the company's stock after purchasing an additional 135,955 shares during the period. Genius Sports accounts for about 5.6% of IFC Advisors LLC's investment portfolio, making the stock its 4th biggest position. IFC Advisors LLC owned approximately 1.33% of Genius Sports worth $29,860,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Genius Sports by 62.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company's stock valued at $21,683,000 after purchasing an additional 833,335 shares during the period. D.A. Davidson & CO. raised its stake in Genius Sports by 67.0% in the first quarter. D.A. Davidson & CO. now owns 89,551 shares of the company's stock worth $896,000 after buying an additional 35,943 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Genius Sports by 194.9% during the first quarter. Envestnet Asset Management Inc. now owns 48,904 shares of the company's stock worth $490,000 after purchasing an additional 32,322 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Genius Sports during the first quarter worth $906,000. Finally, Quantbot Technologies LP increased its position in shares of Genius Sports by 1,259.8% during the first quarter. Quantbot Technologies LP now owns 397,484 shares of the company's stock worth $3,979,000 after purchasing an additional 368,254 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GENI shares. Arete Research raised Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group upped 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. JMP Securities boosted their price objective on shares of Genius Sports from $13.00 to $15.00 and gave the company a "market outperform" rating in a report on Wednesday, September 3rd. Wall Street Zen lowered shares of Genius Sports from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Macquarie boosted their price objective on shares of Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Genius Sports currently has an average rating of "Moderate Buy" and an average price target of $14.22.

Genius Sports Stock Performance

NYSE:GENI opened at $11.59 on Tuesday. The firm's fifty day moving average is $12.56 and its two-hundred day moving average is $11.00. Genius Sports Limited has a one year low of $6.72 and a one year high of $13.73. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -37.40 and a beta of 1.85.

Genius Sports (NYSE:GENI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $118.72 million for the quarter, compared to analysts' expectations of $118.28 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company's revenue was up 24.4% compared to the same quarter last year. As a group, equities research analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

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.

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