Voya Investment Management LLC Buys 465,862 Shares of Genius Sports Limited $GENI

Key Points

• Voya Investment Management LLC increased its stake in Genius Sports Limited by 20.1%, acquiring 465,862 additional shares, bringing its total holdings to 2,781,888 shares worth approximately $27.8 million.
• Several research firms have raised their price targets for Genius Sports, with JMP Securities setting a new target of $15.00, and the overall consensus rating for the stock is currently a Buy.
• Genius Sports reported a quarterly loss of ($0.21) EPS, failing to meet analysts’ expectations, but saw a revenue increase of 24.4% year-over-year, totaling $118.72 million.

Voya Investment Management LLC grew its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,781,888 shares of the company's stock after acquiring an additional 465,862 shares during the period. Voya Investment Management LLC owned 1.29% of Genius Sports worth $27,847,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Genius Sports by 62.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company's stock valued at $21,683,000 after buying an additional 833,335 shares during the period. D.A. Davidson & CO. grew its stake in shares of Genius Sports by 67.0% in the 1st quarter. D.A. Davidson & CO. now owns 89,551 shares of the company's stock valued at $896,000 after buying an additional 35,943 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Genius Sports by 194.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 48,904 shares of the company's stock valued at $490,000 after buying an additional 32,322 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of Genius Sports in the 1st quarter valued at about $518,000. Finally, IFC Advisors LLC grew its stake in shares of Genius Sports by 6.8% in the 1st quarter. IFC Advisors LLC now owns 2,735,155 shares of the company's stock valued at $27,379,000 after buying an additional 173,171 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Stock Performance

Shares of Genius Sports stock traded up $0.21 during mid-day trading on Friday, hitting $12.79. 4,685,033 shares of the stock were exchanged, compared to its average volume of 4,487,095. Genius Sports Limited has a 12 month low of $6.72 and a 12 month high of $13.73. The company has a 50-day simple moving average of $12.12 and a 200 day simple moving average of $10.72. The company has a market capitalization of $2.75 billion, a P/E ratio of -41.26 and a beta of 1.87.

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

Analysts Set New Price Targets

GENI has been the subject of several research reports. Benchmark raised their target price on Genius Sports from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Guggenheim set a $16.00 price target on shares of Genius Sports and gave the company a "buy" rating in a research report on Thursday, August 7th. Needham & Company LLC raised their price target on shares of Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Macquarie raised their price target on shares of Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, B. Riley raised their price target on shares of Genius Sports from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $14.22.

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.