Wellington Management Group LLP Sells 124,677 Shares of Genius Sports Limited (NYSE:GENI)

Wellington Management Group LLP lessened its position in Genius Sports Limited (NYSE:GENI - Free Report) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,167,844 shares of the company's stock after selling 124,677 shares during the period. Wellington Management Group LLP owned approximately 3.79% of Genius Sports worth $70,652,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors grew its holdings in Genius Sports by 14.2% during the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company's stock worth $112,038,000 after acquiring an additional 1,610,078 shares during the period. Granahan Investment Management LLC raised its holdings in Genius Sports by 0.8% during the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company's stock worth $68,886,000 after purchasing an additional 64,752 shares during the last quarter. Voss Capital LP increased its position in shares of Genius Sports by 16.7% in the fourth quarter. Voss Capital LP now owns 7,923,432 shares of the company's stock valued at $68,538,000 after buying an additional 1,134,029 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Genius Sports by 6.2% during the 4th quarter. Hood River Capital Management LLC now owns 5,026,233 shares of the company's stock worth $43,477,000 after buying an additional 295,485 shares during the last quarter. Finally, Divisadero Street Capital Management LP raised its position in Genius Sports by 32,386.5% during the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock worth $30,723,000 after acquiring an additional 3,540,818 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Genius Sports Stock Performance

Shares of NYSE:GENI traded down $0.21 during trading hours on Monday, hitting $9.39. 1,008,258 shares of the company's stock traded hands, compared to its average volume of 2,976,961. The company's fifty day simple moving average is $10.08 and its two-hundred day simple moving average is $9.51. Genius Sports Limited has a 52 week low of $5.06 and a 52 week high of $11.40. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -29.39 and a beta of 1.96.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. The firm had revenue of $143.99 million for the quarter, compared to analysts' expectations of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. Genius Sports's revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS. On average, analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports declared that its board has approved a share buyback plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on GENI shares. The Goldman Sachs Group increased their price objective on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a research report on Thursday, April 17th. BTIG Research increased their target price on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Lake Street Capital raised their price objective on Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, B. Riley restated a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Genius Sports has a consensus rating of "Moderate Buy" and an average target price of $12.19.

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.