D.A. Davidson & CO. lifted its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 67.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,551 shares of the company's stock after buying an additional 35,943 shares during the period. D.A. Davidson & CO.'s holdings in Genius Sports were worth $896,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Genius Sports during the 4th quarter valued at $58,000. Steward Partners Investment Advisory LLC raised its holdings in Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after acquiring an additional 3,429 shares in the last quarter. Park National Corp OH bought a new position in shares of Genius Sports in the 1st quarter valued at $107,000. Bayesian Capital Management LP bought a new stake in Genius Sports during the 4th quarter worth $129,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Genius Sports by 27.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock valued at $143,000 after buying an additional 3,548 shares during the last quarter. Institutional investors own 81.91% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. B. Riley reaffirmed a "buy" rating on shares of Genius Sports in a research note on Wednesday, May 7th. Arete Research upgraded Genius Sports to a "strong-buy" rating in a research report on Wednesday. Arete started coverage on Genius Sports in a research report on Wednesday. They issued a "buy" rating and a $15.00 price objective on the stock. Guggenheim initiated coverage on Genius Sports in a research report on Tuesday, March 18th. They set a "buy" rating and a $12.00 price target on the stock. Finally, Truist Financial started coverage on Genius Sports in a research note on Tuesday, July 1st. They set a "buy" rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Genius Sports currently has a consensus rating of "Buy" and a consensus price target of $12.63.
Read Our Latest Stock Report on GENI
Genius Sports Stock Down 2.3%
Shares of NYSE GENI traded down $0.24 during trading on Friday, hitting $10.25. The company had a trading volume of 4,112,892 shares, compared to its average volume of 3,367,620. The stock has a fifty day simple moving average of $10.00 and a two-hundred day simple moving average of $9.64. Genius Sports Limited has a fifty-two week low of $5.60 and a fifty-two week high of $11.40. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -53.95 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 company had revenue of $143.99 million for the quarter, compared to the consensus estimate of $143.31 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. Genius Sports's quarterly revenue was up 20.3% compared to the same quarter last year. On average, analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current year.
Genius Sports declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Genius Sports Profile
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Free Report)
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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