Harbor Capital Advisors Inc. Decreases Position in Genius Sports Limited (NYSE:GENI)

Harbor Capital Advisors Inc. reduced its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 65.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,121 shares of the company's stock after selling 319,193 shares during the quarter. Harbor Capital Advisors Inc. owned 0.08% of Genius Sports worth $1,723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GENI. Emerald Mutual Fund Advisers Trust acquired a new position in Genius Sports during the fourth quarter worth $58,000. Steward Partners Investment Advisory LLC boosted its position in Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after purchasing an additional 3,429 shares during the last quarter. Park National Corp OH bought a new stake in shares of Genius Sports during the 1st quarter worth approximately $107,000. Bayesian Capital Management LP acquired a new stake in shares of Genius Sports in the 4th quarter valued at approximately $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 acquiring an additional 3,548 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Stock Up 1.4%

Shares of NYSE GENI traded up $0.14 during mid-day trading on Monday, reaching $9.92. 1,834,376 shares of the company were exchanged, compared to its average volume of 3,649,185. The stock has a market capitalization of $2.13 billion, a PE ratio of -30.98 and a beta of 1.87. The company's 50 day moving average price is $10.04 and its 200 day moving average price is $9.53. Genius Sports Limited has a 52 week low of $5.09 and a 52 week high of $11.40.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The business had revenue of $143.99 million for the quarter, compared to analysts' expectations of $143.31 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business's quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the business earned ($0.11) earnings per share. On average, sell-side analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current year.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GENI shares. Lake Street Capital increased their price target on Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a report on Monday, April 21st. They issued a "buy" rating and a $12.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Genius Sports in a research note on Thursday. Guggenheim started coverage on shares of Genius Sports in a report on Tuesday, March 18th. They set a "buy" rating and a $12.00 price target for the company. Finally, Benchmark reiterated a "buy" rating and set a $12.00 target price 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 twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.