51,755 Shares in Genius Sports Limited (NYSE:GENI) Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC purchased a new position in shares of Genius Sports Limited (NYSE:GENI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 51,755 shares of the company's stock, valued at approximately $518,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Genius Sports during the fourth quarter worth approximately $58,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Genius Sports by 39.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after buying an additional 3,429 shares during the period. Park National Corp OH acquired a new stake in Genius Sports in the 1st quarter valued at approximately $107,000. Bayesian Capital Management LP acquired a new stake in shares of Genius Sports in the fourth quarter valued at about $129,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Genius Sports by 27.2% in the fourth 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 last quarter. Institutional investors own 81.91% of the company's stock.

Genius Sports Price Performance

Shares of GENI traded down $0.69 during trading hours on Friday, hitting $9.78. 6,249,355 shares of the stock were exchanged, compared to its average volume of 3,091,095. Genius Sports Limited has a fifty-two week low of $5.09 and a fifty-two week high of $11.40. The business has a 50-day moving average of $10.02 and a 200-day moving average of $9.53. The firm has a market capitalization of $2.11 billion, a P/E ratio of -30.57 and a beta of 1.87.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm had revenue of $143.99 million during the quarter, compared to analyst estimates of $143.31 million. During the same period last year, the company posted ($0.11) EPS. The business's quarterly revenue was up 20.3% on a year-over-year basis. As a group, analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BTIG Research increased their price objective on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Lake Street Capital upped their price objective on Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Craig Hallum set a $15.00 price objective on shares of Genius Sports in a research note on Tuesday, March 4th. B. Riley reissued a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Genius Sports in a research report on Monday, April 21st. They set a "buy" rating and a $12.00 target price for the company. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.19.

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.