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Rice Hall James & Associates LLC Trims Stake in Genius Sports Limited (NYSE:GENI)

Genius Sports logo with Computer and Technology background

Rice Hall James & Associates LLC decreased its position in Genius Sports Limited (NYSE:GENI - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 779,354 shares of the company's stock after selling 40,120 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.36% of Genius Sports worth $7,801,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Divisadero Street Capital Management LP grew its stake in shares of Genius Sports by 32,386.5% in the 4th quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock worth $30,723,000 after buying an additional 3,540,818 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Genius Sports in the fourth quarter worth $24,712,000. Loomis Sayles & Co. L P bought a new stake in Genius Sports in the fourth quarter worth $15,553,000. Capital Research Global Investors grew its stake in shares of Genius Sports by 14.2% in the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company's stock worth $112,038,000 after acquiring an additional 1,610,078 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Genius Sports during the fourth quarter valued at $12,332,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Stock Performance

Shares of NYSE GENI traded up $0.04 during midday trading on Monday, hitting $10.30. 3,256,284 shares of the stock traded hands, compared to its average volume of 3,955,566. The firm has a market capitalization of $2.22 billion, a P/E ratio of -54.19 and a beta of 1.86. Genius Sports Limited has a one year low of $5.60 and a one year high of $11.40. The firm has a 50-day moving average of $10.00 and a two-hundred day moving average of $9.64.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The company had revenue of $143.99 million during the quarter, compared to analysts' expectations of $143.31 million. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. 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 business earned ($0.11) earnings per share. Equities analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

GENI has been the topic of a number of analyst reports. Benchmark reiterated a "buy" rating and issued a $12.00 price target on shares of Genius Sports in a research note on Thursday, April 17th. Arete initiated coverage on shares of Genius Sports in a report on Wednesday, July 9th. They issued a "buy" rating and a $15.00 target price for the company. Citigroup reiterated an "outperform" rating on shares of Genius Sports in a report on Monday, June 30th. Arete Research raised shares of Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a report on Monday, April 21st. They issued a "buy" rating and a $12.00 price objective for the company. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $12.63.

Check Out Our Latest Research Report on GENI

About Genius Sports

(Free Report)

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.

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Institutional Ownership by Quarter for Genius Sports (NYSE:GENI)

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