Quantbot Technologies LP Boosts Holdings in Genius Sports Limited $GENI

Key Points

• Quantbot Technologies LP significantly increased its stake in Genius Sports Limited by 1,259.8% in the first quarter, owning approximately 0.18% of the company valued at $3,979,000.
• Genius Sports recently missed earnings estimates, reporting a loss of ($0.21) earnings per share, while revenue increased 24.4% year-over-year to $118.72 million.
• Wall Street analysts have issued mixed ratings for Genius Sports, with a consensus price target of $14.00 and a majority giving it a "buy" rating.

Quantbot Technologies LP increased its position in Genius Sports Limited (NYSE:GENI - Free Report) by 1,259.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,484 shares of the company's stock after buying an additional 368,254 shares during the period. Quantbot Technologies LP owned 0.18% of Genius Sports worth $3,979,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock valued at $38,000 after acquiring an additional 1,430 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in shares of Genius Sports in the 4th quarter worth $58,000. Park National Corp OH acquired a new stake in Genius Sports in the 1st quarter valued at $107,000. IPG Investment Advisors LLC bought a new stake in Genius Sports during the 1st quarter valued at $107,000. Finally, Bayesian Capital Management LP acquired a new position in Genius Sports during the fourth quarter worth $129,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GENI has been the subject of a number of analyst reports. Arete Research upgraded shares of Genius Sports to a "strong-buy" rating in a report on Wednesday, July 9th. Truist Financial assumed coverage on Genius Sports in a research note on Tuesday, July 1st. They set a "buy" rating and a $14.00 price target for the company. Northland Capmk raised Genius Sports to a "strong-buy" rating in a research note on Friday, July 25th. Guggenheim set a $16.00 price target on Genius Sports and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group increased their price target on Genius Sports from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $14.00.

Genius Sports Stock Performance

NYSE:GENI traded up $0.2150 during trading hours on Friday, reaching $12.8650. The stock had a trading volume of 6,485,220 shares, compared to its average volume of 6,367,414. The stock has a market cap of $2.77 billion, a P/E ratio of -41.50 and a beta of 1.86. The stock has a 50 day simple moving average of $11.05 and a 200 day simple moving average of $10.23. Genius Sports Limited has a 12-month low of $6.72 and a 12-month high of $13.10.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share (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 net margin of 13.94% and a negative return on equity of 11.48%. The company's revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. On average, equities analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

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

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.