Moody National Bank Trust Division Buys 71,900 Shares of Genius Sports Limited (NYSE:GENI)

Moody National Bank Trust Division raised its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 592,114 shares of the company's stock after buying an additional 71,900 shares during the period. Moody National Bank Trust Division owned about 0.28% of Genius Sports worth $5,927,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors raised its stake in Genius Sports by 14.2% during the 4th quarter. Capital Research Global Investors now owns 12,952,320 shares of the company's stock worth $112,038,000 after acquiring an additional 1,610,078 shares during the period. Granahan Investment Management LLC lifted its position in shares of Genius Sports by 0.8% during the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company's stock worth $68,886,000 after purchasing an additional 64,752 shares during the last quarter. Voss Capital LP lifted its position in shares of Genius Sports by 16.7% during the fourth quarter. Voss Capital LP now owns 7,923,432 shares of the company's stock worth $68,538,000 after purchasing an additional 1,134,029 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of Genius Sports by 6.2% during the fourth quarter. Hood River Capital Management LLC now owns 5,026,233 shares of the company's stock worth $43,477,000 after purchasing an additional 295,485 shares during the last quarter. Finally, Divisadero Street Capital Management LP lifted its position in shares of Genius Sports by 32,386.5% during the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock worth $30,723,000 after purchasing an additional 3,540,818 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

Genius Sports Stock Down 0.8%

Shares of GENI traded down $0.08 during mid-day trading on Tuesday, hitting $9.34. 1,135,253 shares of the company's stock were exchanged, compared to its average volume of 2,976,800. Genius Sports Limited has a 52 week low of $5.06 and a 52 week high of $11.40. The stock's 50-day simple moving average is $10.06 and its 200-day simple moving average is $9.51. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -29.19 and a beta of 1.96.

Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Genius Sports's revenue for the quarter was up 20.3% on a year-over-year basis. Analysts forecast 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 buyback program on Tuesday, May 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 4.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

GENI has been the topic of several analyst reports. Benchmark reiterated a "buy" rating and issued a $12.00 target price on shares of Genius Sports in a research note on Thursday, April 17th. The Goldman Sachs Group raised their target price on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a report on Wednesday, March 5th. Craig Hallum set a $15.00 price objective on Genius Sports in a research note on Tuesday, March 4th. Lake Street Capital lifted their target price on Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $13.00 target price on shares of Genius Sports in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Genius Sports has an average rating of "Moderate Buy" and an average target price of $12.19.

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.