Penn Capital Management Company LLC Makes New $395,000 Investment in Genius Sports Limited $GENI

Key Points

• Penn Capital Management Company LLC has made a new investment in Genius Sports Limited, acquiring 39,497 shares valued at approximately $395,000.
• Genius Sports has seen significant institutional investment activity, with firms like Jump Financial LLC and Wellington Management Group LLP increasing their positions during the same quarter.
• Analyst ratings are generally positive, with several upgrades and a consensus price target of $14.00, but Wall Street Zen has issued a downgrade to a "sell" rating.

Penn Capital Management Company LLC acquired a new position in Genius Sports Limited (NYSE:GENI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 39,497 shares of the company's stock, valued at approximately $395,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC grew its position in Genius Sports by 46.1% in the 1st quarter. Jump Financial LLC now owns 439,930 shares of the company's stock worth $4,404,000 after purchasing an additional 138,895 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Genius Sports in the 1st quarter worth about $470,000. Voss Capital LP grew its position in Genius Sports by 17.0% in the 1st quarter. Voss Capital LP now owns 9,269,519 shares of the company's stock worth $92,788,000 after purchasing an additional 1,346,087 shares in the last quarter. Quantbot Technologies LP grew its position in Genius Sports by 1,259.8% in the 1st quarter. Quantbot Technologies LP now owns 397,484 shares of the company's stock worth $3,979,000 after purchasing an additional 368,254 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Genius Sports by 25.4% in the 1st quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company's stock worth $102,547,000 after purchasing an additional 2,076,590 shares in the last quarter. 81.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GENI has been the subject of a number of recent analyst reports. Guggenheim set a $16.00 price objective on shares of Genius Sports and gave the stock a "buy" rating in a research report on Thursday, August 7th. B. Riley increased their target price on shares of Genius Sports from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Northland Securities started coverage on shares of Genius Sports in a research report on Friday, July 25th. They set an "outperform" rating and a $14.00 target price for the company. Wall Street Zen downgraded shares of Genius Sports from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Macquarie increased their target price on shares of Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $14.00.

Genius Sports Trading Up 1.7%

Shares of GENI stock opened at $12.8650 on Friday. The stock has a market capitalization of $2.77 billion, a P/E ratio of -41.50 and a beta of 1.86. The firm's 50 day moving average is $11.05 and its 200 day moving average is $10.23. Genius Sports Limited has a 12 month low of $6.72 and a 12 month high of $13.10.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). The business had revenue of $118.72 million for the quarter, compared to analysts' expectations of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share. On average, equities analysts predict that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports announced that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Genius Sports Company 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.

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