Point72 Asset Management L.P. Makes New $2.48 Million Investment in Genius Sports Limited (NYSE:GENI)

Point72 Asset Management L.P. acquired a new stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its stake in shares of Genius Sports by 2.7% in the 4th quarter. D.A. Davidson & CO. now owns 53,608 shares of the company's stock worth $464,000 after purchasing an additional 1,396 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Genius Sports by 19.4% during the fourth quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock worth $148,000 after buying an additional 2,787 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Genius Sports by 39.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock worth $105,000 after buying an additional 3,429 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Genius Sports by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock valued at $143,000 after buying an additional 3,548 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its position in shares of Genius Sports by 29.5% during the 4th quarter. Arete Wealth Advisors LLC now owns 18,900 shares of the company's stock valued at $163,000 after acquiring an additional 4,300 shares during the last quarter. Institutional investors own 81.91% of the company's stock.

Genius Sports Stock Up 2.4%

Shares of Genius Sports stock traded up $0.24 on Monday, hitting $10.12. 5,120,797 shares of the company traded hands, compared to its average volume of 2,936,067. Genius Sports Limited has a 12-month low of $5.03 and a 12-month high of $11.40. The company has a market cap of $2.18 billion, a PE ratio of -31.61 and a beta of 1.96. The company has a 50-day moving average price of $10.13 and a 200 day moving average price of $9.47.

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

Genius Sports announced that its board has initiated a share buyback plan on Tuesday, May 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 4.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GENI shares. B. Riley restated a "buy" rating on shares of Genius Sports in a report on Wednesday, May 7th. Craig Hallum set a $15.00 price objective on Genius Sports in a report on Tuesday, March 4th. Guggenheim initiated coverage on shares of Genius Sports in a research note on Tuesday, March 18th. They set a "buy" rating and a $12.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a research report on Monday, April 21st. They issued a "buy" rating and a $12.00 target price on the stock. Finally, Benchmark restated a "buy" rating and issued a $12.00 price target on shares of Genius Sports in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock 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.