Nixon Capital LLC Boosts Holdings in Genius Sports Limited $GENI

Key Points

• Nixon Capital LLC increased its stake in Genius Sports Limited by 6.7%, owning over 1 million shares, which represents about 3.6% of its total holdings.
• Genius Sports had a negative EPS of ($0.21) for the most recent quarter, falling short of analyst expectations, despite revenue increasing by 24.4% year-over-year.
• Analysts have varied ratings for Genius Sports, with a consensus rating of "Buy" and an average target price of $14.13.

Nixon Capital LLC increased its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,038,629 shares of the company's stock after purchasing an additional 64,767 shares during the period. Genius Sports accounts for 3.6% of Nixon Capital LLC's investment portfolio, making the stock its 15th largest holding. Nixon Capital LLC owned 0.48% of Genius Sports worth $10,397,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in Genius Sports by 4.6% during the 1st quarter. Victory Capital Management Inc. now owns 24,854 shares of the company's stock worth $249,000 after purchasing an additional 1,085 shares during the period. Pacer Advisors Inc. boosted its stake in Genius Sports by 61.5% during the 1st quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after purchasing an additional 1,430 shares during the period. OneDigital Investment Advisors LLC boosted its stake in Genius Sports by 2.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 57,732 shares of the company's stock worth $578,000 after purchasing an additional 1,652 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Genius Sports by 9.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,849 shares of the company's stock worth $259,000 after purchasing an additional 2,314 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Genius Sports by 19.4% during the 4th quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock worth $148,000 after purchasing an additional 2,787 shares during the period. Institutional investors and hedge funds own 81.91% of the company's stock.

Genius Sports Trading Down 0.4%

Shares of GENI traded down $0.06 during trading hours on Friday, reaching $13.50. The company had a trading volume of 4,207,429 shares, compared to its average volume of 4,419,135. The firm has a 50 day simple moving average of $11.65 and a 200-day simple moving average of $10.48. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -43.53 and a beta of 1.87. Genius Sports Limited has a 12-month low of $6.72 and a 12-month high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $118.72 million during the quarter, compared to analysts' expectations of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) EPS. Sell-side analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GENI. 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 for the company. Needham & Company LLC raised their target price on shares of Genius Sports from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised their target price on shares of Genius Sports from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Arete began coverage on shares of Genius Sports in a research note on Wednesday, July 9th. They issued a "buy" rating and a $15.00 target price for the company. Finally, Truist Financial began coverage on shares of Genius Sports in a research note on Tuesday, July 1st. They issued a "buy" rating and a $14.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $14.13.

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.