IFC Advisors LLC Acquires 173,171 Shares of Genius Sports Limited (NYSE:GENI)

IFC Advisors LLC lifted its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,735,155 shares of the company's stock after purchasing an additional 173,171 shares during the period. Genius Sports accounts for 5.7% of IFC Advisors LLC's holdings, making the stock its 4th biggest holding. IFC Advisors LLC owned about 1.27% of Genius Sports worth $27,379,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. OneDigital Investment Advisors LLC grew its position in Genius Sports by 2.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 57,732 shares of the company's stock worth $578,000 after purchasing an additional 1,652 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Genius Sports by 9.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,849 shares of the company's stock worth $259,000 after purchasing an additional 2,314 shares in the last quarter. ProShare Advisors LLC grew its position in Genius Sports by 19.4% in the 4th quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock worth $148,000 after purchasing an additional 2,787 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock worth $105,000 after purchasing an additional 3,429 shares in the last quarter. Finally, State of Wyoming grew its position in Genius Sports by 8.3% in the 4th quarter. State of Wyoming now owns 45,630 shares of the company's stock worth $395,000 after purchasing an additional 3,495 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Genius Sports Stock Performance

NYSE GENI opened at $10.25 on Friday. Genius Sports Limited has a one year low of $5.60 and a one year high of $11.40. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -53.95 and a beta of 1.86. The company's 50-day simple moving average is $10.00 and its two-hundred day simple moving average is $9.63.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. The business had revenue of $143.99 million during the quarter, compared to analyst estimates of $143.31 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The company's quarterly revenue was up 20.3% compared to the same quarter last year. Equities analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 4.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on GENI shares. B. Riley restated a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. Benchmark reaffirmed a "buy" rating and set a $12.00 target price on shares of Genius Sports in a report on Thursday, April 17th. Citigroup restated an "outperform" rating on shares of Genius Sports in a report on Monday, June 30th. Guggenheim started coverage on Genius Sports in a research note on Tuesday, March 18th. They issued a "buy" rating and a $12.00 price target on the stock. Finally, BTIG Research boosted their price objective on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $12.63.

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.

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