Polar Asset Management Partners Inc. Buys Shares of 934,100 Genius Sports Limited (NYSE:GENI)

Polar Asset Management Partners Inc. bought a new position in Genius Sports Limited (NYSE:GENI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 934,100 shares of the company's stock, valued at approximately $8,080,000. Polar Asset Management Partners Inc. owned about 0.43% of Genius Sports as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Genius Sports in the fourth quarter valued at approximately $58,000. Steward Partners Investment Advisory LLC boosted its stake 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 valued at $105,000 after acquiring an additional 3,429 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Genius Sports in the fourth quarter valued at approximately $129,000. Perigon Wealth Management LLC acquired a new stake in shares of Genius Sports during the fourth quarter worth about $136,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Genius Sports by 27.2% in 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 last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Stock Down 1.5%

Shares of GENI traded down $0.15 during trading on Friday, reaching $9.60. The company's stock had a trading volume of 4,775,850 shares, compared to its average volume of 2,984,579. The company has a fifty day moving average of $10.08 and a two-hundred day moving average of $9.51. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -30.00 and a beta of 1.96. Genius Sports Limited has a twelve month low of $5.06 and a twelve month high of $11.40.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm 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 14.11% and a negative net margin of 15.84%. Genius Sports's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. As a group, equities analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports declared that its Board of Directors has initiated a share buyback program on Tuesday, May 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently commented on GENI shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a research report on Monday, April 21st. They issued a "buy" rating and a $12.00 price objective for the company. Benchmark reaffirmed a "buy" rating and set a $12.00 price objective on shares of Genius Sports in a research note on Thursday, April 17th. Guggenheim started coverage on Genius Sports in a report on Tuesday, March 18th. They issued a "buy" rating and a $12.00 price target for the company. Craig Hallum set a $15.00 target price on shares of Genius Sports in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group upped their price target on Genius Sports from $11.00 to $12.50 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Genius Sports currently has an average rating of "Moderate Buy" and a consensus target price of $12.19.

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.