Samjo Management LLC Sells 757,600 Shares of Genius Sports Limited $GENI

Key Points

• Samjo Management LLC reduced its stake in Genius Sports Limited by 25.4%, selling 757,600 shares, leaving them with 2,225,350 shares, which account for approximately 9.4% of their investment portfolio.
• Genius Sports reported a loss of $0.21 earnings per share for the last quarter, missing the consensus estimate, despite a 24.4% year-over-year increase in revenue, reaching $118.72 million.
• Genius Sports has received mixed ratings from analysts, with several setting price targets ranging from $13.00 to $16.00, and a current consensus rating of "Buy".

Samjo Management LLC lessened its stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,225,350 shares of the company's stock after selling 757,600 shares during the period. Genius Sports accounts for approximately 9.4% of Samjo Management LLC's investment portfolio, making the stock its 2nd biggest position. Samjo Management LLC owned approximately 1.03% of Genius Sports worth $22,276,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GENI. Pacer Advisors Inc. raised its holdings in shares of Genius Sports by 61.5% during the first 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 during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Genius Sports during the fourth quarter worth approximately $58,000. Park National Corp OH purchased a new stake in shares of Genius Sports during the first quarter worth approximately $107,000. IPG Investment Advisors LLC acquired a new position in Genius Sports in the 1st quarter valued at $107,000. Finally, Bayesian Capital Management LP purchased a new position in Genius Sports in the 4th quarter valued at $129,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GENI has been the topic of several recent research reports. Wall Street Zen cut shares of Genius Sports from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. JMP Securities set a $13.00 price target on shares of Genius Sports and gave the stock a "market outperform" rating in a research report on Monday, June 30th. Macquarie upped their price objective on shares of Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Needham & Company LLC increased their price objective on shares of Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Arete began coverage on Genius Sports in a report on Wednesday, July 9th. They set a "buy" rating and a $15.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Genius Sports currently has a consensus rating of "Buy" and a consensus price target of $14.00.

Genius Sports Stock Up 1.7%

GENI stock opened at $12.8650 on Friday. Genius Sports Limited has a 52-week low of $6.72 and a 52-week high of $13.10. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -41.50 and a beta of 1.86. The business has a fifty day moving average of $11.05 and a two-hundred day moving average of $10.22.

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

Genius Sports announced that its board has approved a stock repurchase plan on Tuesday, May 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Genius Sports 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.

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