Graham Capital Management L.P. Has $3.56 Million Stock Holdings in Genius Sports Limited $GENI

Key Points

• Graham Capital Management L.P. significantly increased its stake in Genius Sports Limited by 575.4%, owning about 355,097 shares valued at approximately $3.56 million as of the latest SEC filing.
• Analysts have issued favorable forecasts for Genius Sports, with a consensus price target of $14.00 and several upgrades to "strong-buy" ratings from firms like JMP Securities and Guggenheim.
• Genius Sports reported a 24.4% revenue increase year-over-year despite a larger earnings per share loss than expected, and announced a share buyback plan of $100 million, indicating confidence in its stock value.

Graham Capital Management L.P. grew its position in Genius Sports Limited (NYSE:GENI - Free Report) by 575.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,097 shares of the company's stock after purchasing an additional 302,522 shares during the quarter. Graham Capital Management L.P. owned approximately 0.16% of Genius Sports worth $3,555,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GENI. Quarry LP bought a new position in shares of Genius Sports in the first quarter valued at approximately $37,000. Pacer Advisors Inc. raised its position in shares of Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock valued at $38,000 after purchasing an additional 1,430 shares during the period. Emerald Mutual Fund Advisers Trust grew its stake in shares of Genius Sports by 46.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 9,777 shares of the company's stock worth $98,000 after acquiring an additional 3,112 shares during the last quarter. Park National Corp OH acquired a new stake in shares of Genius Sports in the first quarter worth $107,000. Finally, IPG Investment Advisors LLC acquired a new stake in shares of Genius Sports in the first quarter worth $107,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Stock Up 3.4%

GENI traded up $0.43 during trading on Wednesday, reaching $13.05. 6,494,467 shares of the company's stock were exchanged, compared to its average volume of 5,218,296. Genius Sports Limited has a fifty-two week low of $6.72 and a fifty-two week high of $13.60. The business has a 50 day moving average price of $11.53 and a 200 day moving average price of $10.41. The company has a market capitalization of $2.81 billion, a P/E ratio of -42.08 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 for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The business had revenue of $118.72 million for the quarter, compared to analyst estimates of $118.28 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The firm's quarterly revenue was up 24.4% on a year-over-year basis. As a group, research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GENI shares. Arete started coverage on shares of Genius Sports in a research note on Wednesday, July 9th. They issued a "buy" rating and a $15.00 price objective on the stock. Benchmark raised their price objective on shares of Genius Sports from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. B. Riley raised their price objective on shares of Genius Sports from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Guggenheim set a $16.00 price objective on shares of Genius Sports and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Citigroup restated an "outperform" rating on shares of Genius Sports in a research note on Wednesday. Two investment 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, Genius Sports has an average rating of "Buy" and an average 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.