213,093 Shares in Genius Sports Limited (NYSE:GENI) Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund bought a new stake in Genius Sports Limited (NYSE:GENI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 213,093 shares of the company's stock, valued at approximately $2,133,000. New York State Common Retirement Fund owned about 0.10% of Genius Sports at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Genius Sports by 138.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock valued at $14,264,000 after purchasing an additional 957,559 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Genius Sports by 62.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company's stock worth $21,683,000 after acquiring an additional 833,335 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Genius Sports by 67.0% in the 1st quarter. D.A. Davidson & CO. now owns 89,551 shares of the company's stock worth $896,000 after acquiring an additional 35,943 shares in the last quarter. Nixon Capital LLC bought a new position in shares of Genius Sports in the 4th quarter worth approximately $8,463,000. Finally, Greenwood Capital Associates LLC bought a new position in shares of Genius Sports in the 1st quarter worth approximately $518,000. Institutional investors own 81.91% of the company's stock.

Wall Street Analyst Weigh In

GENI has been the subject of several research reports. JMP Securities set a $13.00 target price on Genius Sports and gave the stock a "market outperform" rating in a research report on Monday, June 30th. 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. Arete assumed coverage on Genius Sports in a research note on Wednesday, July 9th. They set a "buy" rating and a $15.00 target price on the stock. Northland Securities assumed coverage on Genius Sports in a research note on Friday. They set an "outperform" rating and a $14.00 target price on the stock. Finally, Northland Capmk upgraded Genius Sports to a "strong-buy" rating in a research note on Friday. One equities research 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. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $12.72.

Genius Sports Stock Down 1.0%

NYSE:GENI traded down $0.10 on Friday, reaching $10.63. 2,186,382 shares of the company's stock traded hands, compared to its average volume of 6,019,122. The stock has a 50-day simple moving average of $10.09 and a 200-day simple moving average of $9.78. The firm has a market cap of $2.29 billion, a PE ratio of -55.93 and a beta of 1.86. Genius Sports Limited has a 12 month low of $5.76 and a 12 month high of $11.74.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The business 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 business's quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. On average, equities analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 6th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 4.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership 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.