164,753 Shares in Genius Sports Limited (NYSE:GENI) Purchased by Millennium Management LLC

Millennium Management LLC acquired a new position in shares of Genius Sports Limited (NYSE:GENI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 164,753 shares of the company's stock, valued at approximately $1,425,000. Millennium Management LLC owned approximately 0.08% of Genius Sports as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. K2 Principal Fund L.P. purchased a new stake in Genius Sports in the 4th quarter worth approximately $1,730,000. Graham Capital Management L.P. lifted its position in Genius Sports by 52.0% in the 4th quarter. Graham Capital Management L.P. now owns 52,575 shares of the company's stock worth $455,000 after buying an additional 17,986 shares in the last quarter. Granahan Investment Management LLC lifted its position in Genius Sports by 0.8% in the 4th quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company's stock worth $68,886,000 after buying an additional 64,752 shares in the last quarter. G2 Investment Partners Management LLC lifted its position in Genius Sports by 928.3% in the 4th quarter. G2 Investment Partners Management LLC now owns 659,613 shares of the company's stock worth $5,706,000 after buying an additional 595,470 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Genius Sports by 1,953.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,066,005 shares of the company's stock valued at $9,221,000 after acquiring an additional 1,014,083 shares during the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GENI has been the subject of several recent research reports. Lake Street Capital boosted their target price on shares of Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. BTIG Research upped their price objective 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. Benchmark reiterated a "buy" rating and set a $12.00 target price on shares of Genius Sports in a research note on Thursday, April 17th. Craig Hallum set a $15.00 target price on shares of Genius Sports in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a research note on Monday, April 21st. They set a "buy" rating and a $12.00 target price for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.19.

Genius Sports Trading Down 1.1%

NYSE:GENI traded down $0.11 during mid-day trading on Thursday, hitting $9.43. The company's stock had a trading volume of 2,492,846 shares, compared to its average volume of 3,000,716. Genius Sports Limited has a fifty-two week low of $5.09 and a fifty-two week high of $11.40. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -29.45 and a beta of 1.87. The stock has a fifty day moving average of $10.02 and a 200-day moving average of $9.51.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $143.99 million during the quarter, compared to analyst estimates of $143.31 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The company's quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) earnings per share. On average, equities analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 4.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership 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.