Raymond James Financial Inc. Has $16.99 Million Holdings in Genius Sports Limited $GENI

Key Points

• Raymond James Financial Inc. increased its stake in Genius Sports Limited by 19.0%, acquiring 271,383 additional shares and now owns approximately 0.79% of the company valued at $16.98 million.
• Analysts have set a consensus rating of "Buy" for Genius Sports with an average price target of $14.00, indicating strong market confidence despite recent downgrades.
• Genius Sports reported a quarterly revenue of $118.72 million but missed earnings expectations, with a negative net margin of 13.94%, suggesting challenges in profitability.

Raymond James Financial Inc. lifted its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 19.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,697,016 shares of the company's stock after acquiring an additional 271,383 shares during the period. Raymond James Financial Inc. owned 0.79% of Genius Sports worth $16,987,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GENI. Pacer Advisors Inc. raised its stake 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 acquiring an additional 1,430 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in shares of Genius Sports in the 4th quarter valued at approximately $58,000. Park National Corp OH bought a new position in shares of Genius Sports in the 1st quarter valued at approximately $107,000. IPG Investment Advisors LLC bought a new position in shares of Genius Sports in the 1st quarter valued at approximately $107,000. Finally, Bayesian Capital Management LP bought a new position in shares of Genius Sports in the 4th quarter valued at approximately $129,000. 81.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

GENI has been the topic of a number of recent analyst reports. Northland Securities initiated coverage on Genius Sports in a research note on Friday, July 25th. They issued an "outperform" rating and a $14.00 price objective on the stock. Benchmark raised their price objective on Genius Sports from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Guggenheim set a $16.00 target price on Genius Sports and gave the company a "buy" rating in a report on Thursday, August 7th. Arete initiated coverage on Genius Sports in a report on Wednesday, July 9th. They issued a "buy" rating and a $15.00 target price on the stock. Finally, Citigroup reaffirmed a "buy" rating and issued a $16.00 target price (up previously from $12.00) on shares of Genius Sports in a report on Tuesday, August 12th. Two investment 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 stock. According to MarketBeat, Genius Sports has an average rating of "Buy" and a consensus price target of $14.00.

Genius Sports Trading Down 1.4%

GENI traded down $0.18 during midday trading on Tuesday, reaching $12.62. The company's stock had a trading volume of 2,333,577 shares, compared to its average volume of 5,218,296. The stock has a market cap of $2.72 billion, a P/E ratio of -40.69 and a beta of 1.87. The company has a fifty day simple moving average of $11.47 and a 200 day simple moving average of $10.40. Genius Sports Limited has a twelve month low of $6.72 and a twelve month high of $13.24.

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

Genius Sports announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

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.