Lisanti Capital Growth LLC Makes New Investment in Genius Sports Limited (NYSE:GENI)

Lisanti Capital Growth LLC acquired a new stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 535,435 shares of the company's stock, valued at approximately $5,360,000. Genius Sports accounts for 1.6% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 16th largest holding. Lisanti Capital Growth LLC owned 0.25% of Genius Sports as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GENI. Emerald Mutual Fund Advisers Trust bought a new position in Genius Sports during the 4th quarter valued at about $58,000. Park National Corp OH purchased a new position in shares of Genius Sports during the first quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC grew its stake in shares of Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after buying an additional 3,429 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Genius Sports in the fourth quarter worth approximately $129,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Genius Sports by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock worth $143,000 after buying an additional 3,548 shares during the period. 81.91% of the stock is owned by institutional investors.

Genius Sports Stock Performance

GENI stock traded down $0.35 during trading on Wednesday, reaching $9.75. 5,529,910 shares of the company traded hands, compared to its average volume of 3,332,046. The business has a 50 day simple moving average of $10.08 and a 200 day simple moving average of $9.56. Genius Sports Limited has a 12 month low of $5.29 and a 12 month high of $11.40. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -51.32 and a beta of 1.86.

Genius Sports (NYSE:GENI - Get Free Report) last released 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 period in the prior year, the firm posted ($0.11) earnings per share. The company's quarterly revenue was up 20.3% on a year-over-year basis. As a group, research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

GENI has been the topic of several research analyst reports. Truist Financial started coverage on Genius Sports in a research report on Tuesday. They issued a "buy" rating and a $14.00 price objective on the stock. BTIG Research upped their price target on shares of Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Genius Sports in a report on Thursday, June 12th. Lake Street Capital boosted their price objective on shares of Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Benchmark reaffirmed a "buy" rating and set a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.46.

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.