Genius Sports Limited $GENI Shares Purchased by WCM Investment Management LLC

Key Points

• WCM Investment Management sharply boosted its stake in Genius Sports, increasing holdings by 510.9% in the first quarter to 2.9 million shares worth about $12.37 million.
• Several other hedge funds also added to GENI positions, and institutional investors now own 81.91% of the stock, showing heavy professional ownership.
• Genius Sports reported better-than-expected revenue of $187.95 million for the quarter, but earnings still missed estimates and analysts currently rate the stock a Moderate Buy with an average price target of $11.44.

WCM Investment Management LLC increased its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 510.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,917,437 shares of the company's stock after buying an additional 2,439,890 shares during the period. WCM Investment Management LLC owned about 1.18% of Genius Sports worth $12,370,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GENI. Wellington Management Group LLP increased its position in shares of Genius Sports by 17.9% during the third quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company's stock worth $167,298,000 after acquiring an additional 2,051,503 shares during the period. Voss Capital LP increased its holdings in shares of Genius Sports by 35.4% in the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company's stock valued at $122,322,000 after acquiring an additional 2,900,000 shares during the last quarter. Senvest Management LLC raised its position in shares of Genius Sports by 13.7% during the 4th quarter. Senvest Management LLC now owns 9,410,567 shares of the company's stock worth $103,704,000 after acquiring an additional 1,135,577 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of Genius Sports by 35.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company's stock worth $33,661,000 after acquiring an additional 1,974,043 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Genius Sports by 1.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company's stock valued at $65,582,000 after purchasing an additional 101,120 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Price Performance

GENI stock opened at $6.79 on Tuesday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -11.14 and a beta of 1.91. The company has a fifty day moving average price of $5.96 and a 200 day moving average price of $6.27. Genius Sports Limited has a 12 month low of $3.83 and a 12 month high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $187.95 million for the quarter, compared to analysts' expectations of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The company's revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, analysts anticipate that Genius Sports Limited will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial cut their price target on shares of Genius Sports from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. Needham & Company LLC decreased their price objective on shares of Genius Sports from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Roth Capital set a $10.00 price objective on Genius Sports in a report on Friday, May 8th. B. Riley Financial reiterated a "buy" rating on shares of Genius Sports in a research report on Friday, May 8th. Finally, BTIG Research reduced their target price on Genius Sports from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.44.

Genius Sports Company Profile

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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