Trexquant Investment LP Has $12.23 Million Stock Holdings in Genius Sports Limited $GENI

Key Points

• Trexquant Investment LP significantly increased its stake in Genius Sports Limited by 69.0%, owning 1,221,456 shares worth approximately $12.2 million after purchasing an additional 498,896 shares in Q1.
• In a recent earnings report, Genius Sports reported a loss of ($0.21) per share, missing analysts' expectations, but showed a revenue increase of 24.4% year-over-year, reaching $118.72 million.
• Genius Sports has authorized a $100 million share buyback to reacquire up to 4.4% of its shares, indicating the board's belief that the stock may be undervalued.

Trexquant Investment LP increased its position in Genius Sports Limited (NYSE:GENI - Free Report) by 69.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,221,456 shares of the company's stock after purchasing an additional 498,896 shares during the period. Trexquant Investment LP owned 0.57% of Genius Sports worth $12,227,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GENI. Pacer Advisors Inc. grew its stake in Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after purchasing an additional 1,430 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in Genius Sports by 46.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 9,777 shares of the company's stock worth $98,000 after purchasing an additional 3,112 shares in the last quarter. Park National Corp OH acquired a new position in Genius Sports in the first quarter worth about $107,000. IPG Investment Advisors LLC bought a new position in Genius Sports in the first quarter worth about $107,000. Finally, Bayesian Capital Management LP bought a new position in Genius Sports in the fourth quarter worth about $129,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GENI has been the topic of a number of recent research reports. Northland Securities initiated coverage on shares of Genius Sports in a report on Friday, July 25th. They issued an "outperform" rating and a $14.00 target price on the stock. 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 on the stock. Macquarie raised their target price on shares of Genius Sports from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Needham & Company LLC raised their target price on shares of Genius Sports from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Truist Financial assumed coverage on shares of Genius Sports in a report on Tuesday, July 1st. They issued a "buy" rating and a $14.00 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. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $14.00.

Genius Sports Trading Down 1.3%

Genius Sports stock traded down $0.17 during mid-day trading on Tuesday, hitting $12.63. 1,394,584 shares of the company's stock were exchanged, compared to its average volume of 4,273,149. The stock has a market cap of $2.72 billion, a P/E ratio of -40.83 and a beta of 1.87. Genius Sports Limited has a 1-year low of $6.72 and a 1-year high of $13.24. The stock has a 50 day moving average of $11.41 and a two-hundred day moving average of $10.38.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly 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 firm had revenue of $118.72 million for the quarter, compared to the consensus estimate of $118.28 million. During the same quarter last year, the company earned ($0.09) earnings per share. The firm's revenue was up 24.4% on a year-over-year basis. As a group, research analysts predict that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its board has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 4.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is 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.