Jefferies Financial Group Inc. Makes New $1 Million Investment in Genius Sports Limited (NYSE:GENI)

Key Points

• Jefferies Financial Group Inc. has made a new investment in Genius Sports Limited, acquiring 100,000 shares valued at approximately $1 million in the first quarter.
• Institutional investors hold a significant stake in Genius Sports, owning 81.91% of the company's stock, with JPMorgan Chase increasing its holdings by 138.5% in the last quarter.
• Equities analysts are optimistic about Genius Sports, with a consensus "Buy" rating and a target price of $12.72, indicating potential for growth in the stock.

Jefferies Financial Group Inc. purchased a new stake in Genius Sports Limited (NYSE:GENI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $1,001,000.

Several other institutional investors and hedge funds have also modified their holdings of GENI. Victory Capital Management Inc. grew its holdings in shares of Genius Sports by 4.6% in the 1st quarter. Victory Capital Management Inc. now owns 24,854 shares of the company's stock valued at $249,000 after buying an additional 1,085 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Genius Sports by 61.5% in the 1st 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. OneDigital Investment Advisors LLC grew its holdings in Genius Sports by 2.9% during the first 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 during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Genius Sports by 9.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,849 shares of the company's stock worth $259,000 after buying an additional 2,314 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Genius Sports by 19.4% in the fourth quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock valued at $148,000 after buying an additional 2,787 shares during the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GENI has been the subject of several research reports. Northland Securities assumed coverage on Genius Sports in a report on Friday, July 25th. They set an "outperform" rating and a $14.00 price target for the company. Arete Research raised Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. Needham & Company LLC boosted their price target on Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday. Arete began coverage on Genius Sports in a report on Wednesday, July 9th. They set a "buy" rating and a $15.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research note on Monday, April 21st. They issued a "buy" rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Genius Sports presently has an average rating of "Buy" and a consensus price target of $13.50.

Genius Sports Stock Performance

Shares of GENI traded up $0.31 during mid-day trading on Thursday, reaching $11.98. The company had a trading volume of 6,732,403 shares, compared to its average volume of 4,250,067. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -63.03 and a beta of 1.86. The company's 50 day simple moving average is $10.31 and its 200 day simple moving average is $9.91. Genius Sports Limited has a 1-year low of $6.37 and a 1-year high of $12.45.

Genius Sports (NYSE:GENI - Get Free Report) last posted its 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). The company had revenue of $118.72 million for the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. The business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, equities 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 buyback plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.