Genius Sports Limited $GENI Shares Acquired by Gerber Kawasaki Wealth & Investment Management

Key Points

• Gerber Kawasaki Wealth & Investment Management increased its holdings in Genius Sports Limited by 72.7% in Q1, owning 89,619 shares valued at approximately $897,000.
• Multiple hedge funds, including Wellington Management and Voss Capital, have also increased their positions in Genius Sports, contributing to institutional ownership of 81.91% in the company.
• Analysts show strong confidence in Genius Sports, with a consensus rating of "Buy" and a target price between $14.00 and $16.00 from various investment firms.

Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 72.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,619 shares of the company's stock after acquiring an additional 37,739 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in Genius Sports were worth $897,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. raised 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 valued at $38,000 after acquiring an additional 1,430 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Genius Sports by 46.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 9,777 shares of the company's stock valued at $98,000 after acquiring an additional 3,112 shares during the last quarter. Park National Corp OH purchased a new stake in Genius Sports during the 1st quarter valued at approximately $107,000. IPG Investment Advisors LLC purchased a new position in shares of Genius Sports during the 1st quarter worth approximately $107,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Genius Sports during the 4th quarter worth approximately $129,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GENI. Arete initiated coverage on Genius Sports in a research note on Wednesday, July 9th. They set a "buy" rating and a $15.00 target price for the company. Macquarie upped their price target on Genius Sports from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Northland Capmk upgraded Genius Sports to a "strong-buy" rating in a report on Friday, July 25th. Guggenheim set a $16.00 price target on Genius Sports and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Northland Securities initiated coverage on Genius Sports in a report on Friday, July 25th. They issued an "outperform" rating and a $14.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Genius Sports currently has an average rating of "Buy" and a consensus target price of $14.00.

Genius Sports Trading Down 0.5%

Shares of Genius Sports stock traded down $0.07 during trading hours on Friday, reaching $12.77. The stock had a trading volume of 2,174,926 shares, compared to its average volume of 5,755,804. The firm has a 50 day simple moving average of $11.35 and a two-hundred day simple moving average of $10.36. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -41.18 and a beta of 1.87. Genius Sports Limited has a 1 year low of $6.72 and a 1 year high of $13.24.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). The firm had revenue of $118.72 million during the quarter, compared to analysts' expectations of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The business's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) earnings per share. Sell-side analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports announced 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 shares. This buyback authorization allows the company to reacquire up to 4.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Genius Sports Company 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.