Jefferies Financial Group Inc. Invests $1 Million 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. bought a new position in Genius Sports Limited (NYSE:GENI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 100,000 shares of the company's stock, valued at approximately $1,001,000.

A number of other institutional investors have also recently bought and sold shares of GENI. JPMorgan Chase & Co. increased its position in shares of Genius Sports by 138.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock worth $14,264,000 after acquiring an additional 957,559 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Genius Sports by 62.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company's stock worth $21,683,000 after purchasing an additional 833,335 shares during the period. D.A. Davidson & CO. increased its holdings in Genius Sports by 67.0% in the 1st quarter. D.A. Davidson & CO. now owns 89,551 shares of the company's stock valued at $896,000 after purchasing an additional 35,943 shares in the last quarter. Nixon Capital LLC acquired a new position in shares of Genius Sports during the fourth quarter worth about $8,463,000. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of Genius Sports in the first quarter valued at about $518,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GENI. B. Riley upped their price target on Genius Sports from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday. JMP Securities set a $13.00 price objective on shares of Genius Sports and gave the stock a "market outperform" rating in a report on Monday, June 30th. Benchmark raised their price objective on Genius Sports from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday. Arete Research upgraded Genius Sports to a "strong-buy" rating in a research note on Wednesday, July 9th. Finally, Northland Securities initiated coverage on Genius Sports in a research report on Friday, July 25th. They issued an "outperform" rating and a $14.00 target price on the stock. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Genius Sports currently has an average rating of "Buy" and an average target price of $13.69.

Genius Sports Trading Up 2.0%

NYSE:GENI traded up $0.24 on Friday, hitting $12.20. 3,244,904 shares of the company's stock traded hands, compared to its average volume of 4,244,033. The company has a market cap of $2.62 billion, a PE ratio of -39.27 and a beta of 1.86. Genius Sports Limited has a 1 year low of $6.37 and a 1 year high of $12.45. The firm has a 50-day moving average price of $10.35 and a 200-day moving average price of $9.93.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) EPS 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 analysts' expectations of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.98%. The business's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) earnings per share. On average, research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its Board of Directors has initiated a stock 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 usually an indication that the company's management believes its shares are undervalued.

Genius Sports Company 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.