Genius Sports Limited $GENI Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management increased its Genius Sports stake by 11% in the second quarter, acquiring 169,398 additional shares and bringing its holdings to 1.71 million shares, or 0.70% of the company. Institutional investors collectively own 81.91% of GENI.
• Genius Sports reported 64.7% year-over-year revenue growth to $195.5 million, beating estimates, but its quarterly loss of $0.28 per share was wider than the expected $0.07 loss. The company posted negative net margins and return on equity.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $11.44, despite ratings ranging from “Strong Buy” to “Strong Sell.” GENI opened at $7.51, well above its 200-day moving average of $5.93.

Wellington Management Group LLP lifted its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,714,882 shares of the company's stock after buying an additional 169,398 shares during the period. Wellington Management Group LLP owned 0.70% of Genius Sports worth $10,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GENI. Parallel Advisors LLC acquired a new position in Genius Sports in the first quarter valued at approximately $25,000. Baer Investment Advisory LLC bought a new position in shares of Genius Sports during the first quarter valued at approximately $61,000. UMB Bank n.a. acquired a new stake in shares of Genius Sports during the 4th quarter worth approximately $63,000. Lexington Hill Partners LLC acquired a new stake in shares of Genius Sports during the 2nd quarter worth approximately $64,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Genius Sports by 29.1% in the 1st quarter. Pacer Advisors Inc. now owns 15,270 shares of the company's stock worth $68,000 after purchasing an additional 3,440 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Genius Sports Stock Up 0.3%

GENI stock opened at $7.51 on Tuesday. The firm's 50-day moving average is $7.18 and its two-hundred day moving average is $5.93. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -11.04 and a beta of 1.88. Genius Sports Limited has a 52 week low of $3.83 and a 52 week high of $13.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.21). Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The company had revenue of $195.50 million during the quarter, compared to the consensus estimate of $184.43 million. During the same quarter last year, the business earned ($0.21) earnings per share. The company's revenue was up 64.7% on a year-over-year basis. On average, analysts forecast that Genius Sports Limited will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

GENI has been the subject of a number of analyst reports. Zacks Research lowered Genius Sports from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Stifel Nicolaus raised their target price on Genius Sports from $5.00 to $7.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Freedom Capital upgraded Genius Sports to a "strong-buy" rating in a research note on Monday, July 20th. Needham & Company LLC boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, Benchmark restated a "buy" rating on shares of Genius Sports in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $11.44.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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