Millennium Management LLC Has $27.69 Million Holdings in Genius Sports Limited $GENI

Key Points

• Millennium Management LLC dramatically increased its holdings in Genius Sports by 1,579.0%, now owning approximately 1.29% of the company valued at $27.69 million.
• Genius Sports reported earnings of ($0.21) per share, missing estimates, but showed a 24.4% revenue increase year-over-year to $118.72 million.
• Wall Street analysts maintain a consensus rating of "Buy" for Genius Sports, with a price target ranging around $14.12 to $16.00 following recent upgrades.

Millennium Management LLC lifted its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 1,579.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,766,206 shares of the company's stock after acquiring an additional 2,601,453 shares during the period. Millennium Management LLC owned 1.29% of Genius Sports worth $27,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in Genius Sports by 25.4% in the first quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company's stock worth $102,547,000 after buying an additional 2,076,590 shares during the last quarter. Voss Capital LP lifted its holdings in shares of Genius Sports by 17.0% in the first quarter. Voss Capital LP now owns 9,269,519 shares of the company's stock valued at $92,788,000 after purchasing an additional 1,346,087 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Genius Sports in the first quarter valued at $28,280,000. IFC Advisors LLC boosted its holdings in shares of Genius Sports by 6.8% during the first quarter. IFC Advisors LLC now owns 2,735,155 shares of the company's stock worth $27,379,000 after purchasing an additional 173,171 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Genius Sports by 2.3% during the first quarter. Westfield Capital Management Co. LP now owns 2,178,257 shares of the company's stock worth $21,804,000 after purchasing an additional 49,279 shares during the period. Institutional investors and hedge funds own 81.91% of the company's stock.

Genius Sports Price Performance

Shares of GENI traded down $0.04 during trading hours on Wednesday, hitting $12.24. The stock had a trading volume of 829,679 shares, compared to its average volume of 4,320,171. The company's fifty day moving average is $12.00 and its two-hundred day moving average is $10.65. Genius Sports Limited has a 52 week low of $6.72 and a 52 week high of $13.73. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -39.53 and a beta of 1.87.

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Needham & Company LLC boosted their target price on Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Guggenheim set a $16.00 price target on shares of Genius Sports and gave the stock a "buy" rating in a research note on Thursday, August 7th. Northland Securities began coverage on shares of Genius Sports in a research note on Friday, July 25th. They set an "outperform" rating and a $14.00 price target on the stock. UBS Group increased their price target on shares of Genius Sports from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Finally, B. Riley raised 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. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $14.22.

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.