Genius Sports Limited (NYSE:GENI) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 67.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,551 shares of the company's stock after acquiring an additional 35,943 shares during the quarter. D.A. Davidson & CO.'s holdings in Genius Sports were worth $896,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Divisadero Street Capital Management LP raised its holdings in shares of Genius Sports by 32,386.5% during the 4th quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock valued at $30,723,000 after purchasing an additional 3,540,818 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Genius Sports in the 4th quarter worth $24,712,000. Loomis Sayles & Co. L P acquired a new stake in Genius Sports in the 4th quarter worth $15,553,000. Capital Research Global Investors boosted its position in shares of Genius Sports by 14.2% during the 4th quarter. Capital Research Global Investors now owns 12,952,320 shares of the company's stock valued at $112,038,000 after acquiring an additional 1,610,078 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Genius Sports during the 4th quarter valued at about $12,332,000. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Trading Up 4.0%

GENI opened at $10.42 on Wednesday. The company's 50 day moving average is $10.02 and its 200 day moving average is $9.60. Genius Sports Limited has a 12-month low of $5.31 and a 12-month high of $11.40. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -54.84 and a beta of 1.86.

Genius Sports (NYSE:GENI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. The business had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. During the same period last year, the company posted ($0.11) earnings per share. The company's quarterly revenue was up 20.3% compared to the same quarter last year. As a group, analysts predict that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its Board of Directors has approved a stock buyback program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. B. Riley reissued a "buy" rating on shares of Genius Sports in a research note on Wednesday, May 7th. JMP Securities set a $13.00 price target on shares of Genius Sports and gave the company a "market outperform" rating in a report on Monday, June 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a report on Monday, April 21st. They set a "buy" rating and a $12.00 target price for the company. BTIG Research increased their target price on shares of Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Finally, Benchmark reaffirmed a "buy" rating and set a $12.00 price target on shares of Genius Sports in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Genius Sports presently has an average rating of "Moderate Buy" and a consensus target price of $12.46.

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.

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