287,187 Shares in Genius Sports Limited (NYSE:GENI) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in Genius Sports Limited (NYSE:GENI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 287,187 shares of the company's stock, valued at approximately $2,484,000. Point72 Asset Management L.P. owned 0.13% of Genius Sports as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust bought a new stake in Genius Sports during the fourth quarter valued at about $58,000. Steward Partners Investment Advisory LLC grew its position 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 worth $105,000 after purchasing an additional 3,429 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Genius Sports during the 4th quarter valued at approximately $129,000. Perigon Wealth Management LLC bought a new stake in Genius Sports during the 4th quarter valued at approximately $136,000. Finally, Envestnet Asset Management Inc. raised its stake in Genius Sports by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock valued at $143,000 after purchasing an additional 3,548 shares during the period. 81.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Genius Sports in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their target price on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Guggenheim assumed coverage on Genius Sports in a research note on Tuesday, March 18th. They set a "buy" rating and a $12.00 target price on the stock. 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, BTIG Research lifted their target price on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.19.

Genius Sports Price Performance

Shares of GENI stock traded up $0.24 during trading hours on Friday, hitting $10.12. The stock had a trading volume of 5,120,797 shares, compared to its average volume of 2,929,099. Genius Sports Limited has a one year low of $5.03 and a one year high of $11.40. The stock's 50-day moving average price is $10.12 and its two-hundred day moving average price is $9.42. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -31.61 and a beta of 1.96.

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, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $143.99 million during the quarter, compared to analyst estimates of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm's revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) earnings per share. As a group, equities research analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its board has approved a stock buyback program on Tuesday, May 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.4% of its stock through open market purchases. Stock repurchase programs are usually an indication 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.