Genius Sports Limited $GENI Shares Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC increased its stake in Genius Sports Limited by 46.1%, owning 439,930 shares valued at approximately $4.40 million.
• Genius Sports reported a 24.4% increase in revenue year-over-year for the last quarter, despite a miss on earnings by $0.17.
• The company has launched a $100 million stock buyback program, signaling confidence that its shares are undervalued.

Jump Financial LLC lifted its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 46.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,930 shares of the company's stock after purchasing an additional 138,895 shares during the quarter. Jump Financial LLC owned 0.20% of Genius Sports worth $4,404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GENI. Envestnet Asset Management Inc. boosted its stake in Genius Sports by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock worth $143,000 after purchasing an additional 3,548 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Genius Sports in the 4th quarter valued at about $253,000. Stifel Financial Corp increased its stake in Genius Sports by 63.2% during the fourth quarter. Stifel Financial Corp now owns 116,700 shares of the company's stock worth $1,009,000 after purchasing an additional 45,175 shares during the period. Nebula Research & Development LLC purchased a new stake in Genius Sports during the fourth quarter worth about $204,000. Finally, Boothbay Fund Management LLC increased its stake in Genius Sports by 914.8% during the fourth quarter. Boothbay Fund Management LLC now owns 109,649 shares of the company's stock worth $948,000 after purchasing an additional 98,844 shares during the period. Hedge funds and other institutional investors own 81.91% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Genius Sports from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. B. Riley increased their price target on Genius Sports from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Macquarie raised their target price on Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Needham & Company LLC raised their price target on Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group lifted their price objective on Genius Sports from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $14.00.

Genius Sports Stock Down 0.1%

Shares of NYSE GENI traded down $0.02 during midday trading on Thursday, hitting $12.81. The stock had a trading volume of 4,295,414 shares, compared to its average volume of 6,112,783. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -41.31 and a beta of 1.86. Genius Sports Limited has a 1-year low of $6.72 and a 1-year high of $13.24. The company has a fifty day moving average price of $11.29 and a 200 day moving average price of $10.32.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The business's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share. On average, research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports declared that its board has approved a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

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.