Hodges Capital Management Inc. Invests $2.15 Million in Genius Sports Limited $GENI

Key Points

• Hodges Capital Management Inc. acquired 215,000 shares of Genius Sports Limited, valued at approximately $2,152,000, representing about 0.10% of the company's stock as of the latest reporting period.
• In the first quarter, several large investors, including Millennium Management LLC, significantly increased their holdings in Genius Sports, indicating strong institutional interest in the stock.
• Genius Sports reported a negative EPS of ($0.21), missing analyst expectations, but its revenue grew by 24.4% year-over-year, totaling $118.72 million in the most recent quarter.

Hodges Capital Management Inc. purchased a new stake in Genius Sports Limited (NYSE:GENI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 215,000 shares of the company's stock, valued at approximately $2,152,000. Hodges Capital Management Inc. owned 0.10% of Genius Sports as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in shares of Genius Sports by 4.6% in the first quarter. Victory Capital Management Inc. now owns 24,854 shares of the company's stock worth $249,000 after purchasing an additional 1,085 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Genius Sports by 61.5% during the 1st quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after buying an additional 1,430 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Genius Sports by 2.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 57,732 shares of the company's stock valued at $578,000 after buying an additional 1,652 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Genius Sports by 9.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,849 shares of the company's stock valued at $259,000 after buying an additional 2,314 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Genius Sports by 19.4% during the fourth quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock worth $148,000 after acquiring an additional 2,787 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Genius Sports Price Performance

Shares of Genius Sports stock traded down $0.02 during trading on Wednesday, reaching $12.26. 2,147,719 shares of the company traded hands, compared to its average volume of 4,327,909. The firm has a market capitalization of $2.64 billion, a PE ratio of -39.53 and a beta of 1.87. Genius Sports Limited has a 1-year low of $6.72 and a 1-year high of $13.73. The company has a 50 day moving average price of $12.00 and a 200-day moving average price of $10.65.

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 the consensus estimate of ($0.04) by ($0.17). Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The company had revenue of $118.72 million during the quarter, compared to the consensus estimate of $118.28 million. During the same period last year, the firm posted ($0.09) earnings per share. The company's revenue for the quarter was up 24.4% on a year-over-year basis. Equities research analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GENI shares. B. Riley upped their target price on Genius Sports from $13.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Macquarie upped their price objective on shares of Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Citigroup reiterated an "outperform" rating on shares of Genius Sports in a research report on Wednesday, September 3rd. The Goldman Sachs Group lifted their target price on shares of Genius Sports from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Needham & Company LLC upped their price target on shares of Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Genius Sports has a consensus rating of "Buy" and an average price target of $14.22.

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.