Genius Sports Limited $GENI Stake Reduced by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. reduced its stake in Genius Sports Limited by 34.5%, now owning approximately 0.28% of the company worth $6.13 million.
• Genius Sports reported a quarterly revenue increase of 24.4% year-over-year, with a loss of ($0.21) EPS, missing analysts' expectations.
• Analysts have a consensus rating of "Buy" for Genius Sports, with an average price target of $14.13, indicating potential growth.

Polar Asset Management Partners Inc. trimmed its holdings in Genius Sports Limited (NYSE:GENI - Free Report) by 34.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 612,008 shares of the company's stock after selling 322,092 shares during the period. Polar Asset Management Partners Inc. owned about 0.28% of Genius Sports worth $6,126,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in shares of Genius Sports by 4.6% in the 1st quarter. Victory Capital Management Inc. now owns 24,854 shares of the company's stock valued at $249,000 after purchasing an additional 1,085 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Genius Sports by 61.5% in the 1st quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock valued at $38,000 after purchasing an additional 1,430 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Genius Sports by 2.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 57,732 shares of the company's stock valued at $578,000 after purchasing an additional 1,652 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Genius Sports by 9.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,849 shares of the company's stock valued at $259,000 after purchasing an additional 2,314 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Genius Sports by 19.4% in the 4th quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock valued at $148,000 after purchasing an additional 2,787 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GENI shares. Guggenheim set a $16.00 price target on Genius Sports and gave the company a "buy" rating in a research report on Thursday, August 7th. Truist Financial started coverage on Genius Sports in a research report on Tuesday, July 1st. They set a "buy" rating and a $14.00 price target on the stock. Northland Securities started coverage on Genius Sports in a research report on Friday, July 25th. They set an "outperform" rating and a $14.00 price target on the stock. JMP Securities upped their price target on Genius Sports from $13.00 to $15.00 and gave the company a "market outperform" rating in a research report on Wednesday, September 3rd. Finally, Benchmark upped their price target on Genius Sports from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $14.13.

Genius Sports Trading Down 5.4%

GENI traded down $0.72 during trading on Monday, reaching $12.78. 8,720,672 shares of the company were exchanged, compared to its average volume of 4,419,135. The stock has a market cap of $2.75 billion, a P/E ratio of -41.21 and a beta of 1.87. The firm has a 50 day moving average of $11.70 and a 200 day moving average of $10.50. Genius Sports Limited has a 52 week low of $6.72 and a 52 week high of $13.73.

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

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.