PEAK6 LLC Cuts Stock Holdings in Genius Sports Limited $GENI

Key Points

• PEAK6 LLC reduced its stake in Genius Sports Limited by 57.1% in the first quarter, selling over 205,000 shares, leaving it with holdings worth approximately $1.55 million.
• Genius Sports reported a net loss of $0.21 per share for the last quarter, which was worse than analysts' expectations, despite a revenue increase of 24.4% year-over-year.
• Several analysts have recently rated Genius Sports with a consensus rating of "Buy", with price targets ranging up to $15.00.

PEAK6 LLC decreased its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 57.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,673 shares of the company's stock after selling 205,918 shares during the quarter. PEAK6 LLC owned about 0.07% of Genius Sports worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GENI. Envestnet Asset Management Inc. raised its holdings in Genius Sports by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock valued at $143,000 after acquiring an additional 3,548 shares during the period. Renaissance Technologies LLC bought a new position in shares of Genius Sports in the fourth quarter worth $253,000. Stifel Financial Corp increased its holdings in shares of Genius Sports by 63.2% in the fourth quarter. Stifel Financial Corp now owns 116,700 shares of the company's stock worth $1,009,000 after purchasing an additional 45,175 shares during the period. Nebula Research & Development LLC bought a new position in shares of Genius Sports in the fourth quarter worth $204,000. Finally, Aquatic Capital Management LLC bought a new position in shares of Genius Sports in the fourth quarter worth $556,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Price Performance

NYSE GENI traded up $0.50 during trading on Thursday, hitting $13.56. 6,617,891 shares of the company's stock traded hands, compared to its average volume of 4,506,651. The stock has a fifty day moving average of $11.59 and a two-hundred day moving average of $10.44. Genius Sports Limited has a 12-month low of $6.72 and a 12-month high of $13.60. The firm has a market cap of $2.92 billion, a P/E ratio of -43.74 and a beta of 1.87.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.17). Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The business had revenue of $118.72 million for the quarter, compared to analysts' expectations of $118.28 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The business's quarterly revenue was up 24.4% on a year-over-year basis. As a group, analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GENI shares. The Goldman Sachs Group upped their price target on shares of Genius Sports from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Northland Securities started coverage on shares of Genius Sports in a report on Friday, July 25th. They issued an "outperform" rating and a $14.00 price target on the stock. B. Riley upped their price target on shares of Genius Sports from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Needham & Company LLC upped their price target on shares of Genius Sports from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Northland Capmk raised shares of Genius Sports to a "strong-buy" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Genius Sports presently has an average rating of "Buy" and a consensus target price of $14.13.

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.