Russell Investments Group Ltd. Increases Stock Holdings in Genius Sports Limited $GENI

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Genius Sports Limited, acquiring an additional 281,171 shares, bringing its total holdings to 683,034 shares.
• Genius Sports reported a quarterly loss of ($0.21) earnings per share, missing estimates but achieved revenue of $118.72 million, up 24.4% year-over-year.
• The company's board has authorized a $100 million stock repurchase program, indicating confidence in the stock's valuation.

Russell Investments Group Ltd. lifted its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 70.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 683,034 shares of the company's stock after acquiring an additional 281,171 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.32% of Genius Sports worth $6,837,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Divisadero Street Capital Management LP raised its stake in Genius Sports by 32,386.5% in the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock valued at $30,723,000 after purchasing an additional 3,540,818 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Genius Sports in the 4th quarter worth about $24,712,000. Sycale Advisors NY LLC purchased a new position in Genius Sports in the fourth quarter worth about $12,113,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Genius Sports by 1,953.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,066,005 shares of the company's stock worth $9,221,000 after buying an additional 1,014,083 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $8,080,000. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Trading Up 0.6%

GENI traded up $0.0750 on Monday, reaching $12.9550. The stock had a trading volume of 1,693,079 shares, compared to its average volume of 4,303,836. Genius Sports Limited has a 12-month low of $6.72 and a 12-month high of $13.10. The business's 50-day moving average price is $11.05 and its two-hundred day moving average price is $10.23. The company has a market cap of $2.79 billion, a P/E ratio of -41.79 and a beta of 1.86.

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 the consensus estimate of ($0.04) by ($0.17). The business had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. As a group, analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports declared that its board has approved a stock repurchase plan 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 plans are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

GENI has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Genius Sports from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. JMP Securities set a $13.00 price target on Genius Sports and gave the stock a "market outperform" rating in a research report on Monday, June 30th. Citigroup reaffirmed a "buy" rating and issued a $16.00 price objective (up previously from $12.00) on shares of Genius Sports in a research note on Tuesday, August 12th. B. Riley boosted their price objective on Genius Sports from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Needham & Company LLC raised their price objective on Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two equities research 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $14.00.

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.