Squarepoint Ops LLC Cuts Stake in Genius Sports Limited $GENI

Key Points

• Squarepoint Ops LLC cut its Genius Sports stake by 46.5% in the second quarter, selling 753,868 shares and retaining 866,212 shares valued at approximately $5.25 million.
• Institutional ownership remains high at 81.91%, with Invesco significantly increasing its position and Frontier Capital Management taking a new stake during the quarter.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an $11.44 target price, although Genius Sports missed quarterly earnings expectations despite 64.7% year-over-year revenue growth.

Squarepoint Ops LLC lowered its stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 46.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 866,212 shares of the company's stock after selling 753,868 shares during the period. Squarepoint Ops LLC owned 0.35% of Genius Sports worth $5,249,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GENI. Royal Bank of Canada grew its holdings in Genius Sports by 17.6% during the first quarter. Royal Bank of Canada now owns 44,339 shares of the company's stock valued at $444,000 after purchasing an additional 6,623 shares during the period. Cetera Investment Advisers increased its holdings in shares of Genius Sports by 10.0% in the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company's stock worth $159,000 after purchasing an additional 1,388 shares during the period. Prudential Financial Inc. bought a new position in Genius Sports in the 2nd quarter worth about $266,000. Invesco Ltd. grew its stake in Genius Sports by 3,584.2% in the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company's stock worth $34,233,000 after buying an additional 3,202,290 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in Genius Sports in the second quarter worth $14,220,000. Institutional investors own 81.91% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Roth Capital reiterated a "buy" rating and set a $12.00 price target on shares of Genius Sports in a research report on Friday, August 7th. Weiss Ratings upgraded Genius Sports from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Genius Sports from a "strong sell" rating to a "sell" rating in a report on Saturday, September 5th. Zacks Research cut shares of Genius Sports from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $10.50 target price on shares of Genius Sports in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.44.

Genius Sports Stock Performance

Shares of GENI opened at $6.84 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The stock has a market cap of $1.68 billion, a P/E ratio of -10.05 and a beta of 1.88. The business's 50 day moving average price is $7.23 and its 200-day moving average price is $5.95. Genius Sports Limited has a 52 week low of $3.83 and a 52 week high of $13.69.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.21). The company had revenue of $195.50 million for the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. Genius Sports's revenue was up 64.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Equities research analysts anticipate that Genius Sports Limited will post -0.35 earnings per share for the current fiscal year.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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