Legato Capital Management LLC Takes $917,000 Position in Genius Sports Limited (NYSE:GENI)

Legato Capital Management LLC acquired a new position in shares of Genius Sports Limited (NYSE:GENI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 91,650 shares of the company's stock, valued at approximately $917,000.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new stake in Genius Sports in the 1st quarter valued at $749,000. GW&K Investment Management LLC bought a new stake in Genius Sports in the 1st quarter valued at $2,911,000. Victory Capital Management Inc. boosted its holdings in 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 purchasing an additional 1,085 shares during the period. Emerald Advisers LLC boosted its holdings in Genius Sports by 31.0% in the 1st quarter. Emerald Advisers LLC now owns 29,969 shares of the company's stock valued at $300,000 after purchasing an additional 7,085 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Genius Sports in the 1st quarter valued at $2,133,000. 81.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GENI shares. JMP Securities set a $13.00 price target on shares of Genius Sports and gave the company a "market outperform" rating in a report on Monday, June 30th. Northland Capmk raised shares of Genius Sports to a "strong-buy" rating in a report on Friday. Needham & Company LLC restated a "buy" rating and issued a $13.00 price objective on shares of Genius Sports in a research note on Thursday, June 12th. Arete Research upgraded shares of Genius Sports to a "strong-buy" rating in a research note on Wednesday, July 9th. Finally, B. Riley restated a "buy" rating on shares of Genius Sports in a research note on Wednesday, May 7th. 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 company's stock. According to MarketBeat.com, Genius Sports presently has an average rating of "Buy" and an average price target of $12.72.

Genius Sports Trading Down 1.0%

Shares of NYSE:GENI traded down $0.10 during midday trading on Friday, reaching $10.63. The company had a trading volume of 2,186,382 shares, compared to its average volume of 6,019,122. Genius Sports Limited has a 52-week low of $5.76 and a 52-week high of $11.74. The company's 50 day moving average price is $10.09 and its 200 day moving average price is $9.78. The stock has a market cap of $2.29 billion, a P/E ratio of -55.93 and a beta of 1.86.

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

Genius Sports announced that its board has authorized a share repurchase plan on Tuesday, May 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.4% of its shares through open market purchases. Shares buyback plans are usually 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.