XTX Topco Ltd Purchases 44,673 Shares of Genius Sports Limited (NYSE:GENI)

Key Points

• XTX Topco Ltd increased its stake in Genius Sports Limited by 74.8% in Q1, acquiring an additional 44,673 shares, bringing its total holdings to 104,381 shares worth approximately $1,045,000.
• Other institutional investors also significantly increased their stakes in Genius Sports, with Divisadero Street Capital Management boosting its position by 32,386.5% in Q4, now owning 3,551,751 shares valued at about $30.7 million.
• Analysts have a consensus target price of $12.72 for Genius Sports, with several brokerages giving it a "buy" or "strong-buy" rating, indicating positive outlooks for the company's performance.

XTX Topco Ltd lifted its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 74.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,381 shares of the company's stock after acquiring an additional 44,673 shares during the period. XTX Topco Ltd's holdings in Genius Sports were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Research Global Investors grew its stake in shares of Genius Sports by 14.2% in 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 last quarter. Granahan Investment Management LLC boosted its stake 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 buying an additional 64,752 shares in the last quarter. Voss Capital LP boosted its stake in Genius Sports by 16.7% during the fourth quarter. Voss Capital LP now owns 7,923,432 shares of the company's stock worth $68,538,000 after buying an additional 1,134,029 shares in the last quarter. Hood River Capital Management LLC boosted its stake in Genius Sports by 6.2% during the fourth 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 in the last quarter. Finally, Divisadero Street Capital Management LP boosted its stake 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 buying an additional 3,540,818 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Wall Street Analysts Forecast Growth

GENI has been the topic of a number of recent research reports. Citigroup reiterated an "outperform" rating on shares of Genius Sports in a research note on Monday, June 30th. JMP Securities set a $13.00 target price on shares of Genius Sports and gave the company a "market outperform" rating in a research note on Monday, June 30th. BTIG Research upped their price target on shares of Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Arete initiated coverage on shares of Genius Sports in a research report on Wednesday, July 9th. They set a "buy" rating and a $15.00 price target on the stock. Finally, Truist Financial began coverage on shares of Genius Sports in a research report on Tuesday, July 1st. They set a "buy" rating and a $14.00 price target on the stock. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $13.50.

Genius Sports Price Performance

Shares of GENI traded up $0.24 during mid-day trading on Thursday, hitting $11.91. 4,910,183 shares of the company's stock were exchanged, compared to its average volume of 4,236,802. The company has a market cap of $2.56 billion, a PE ratio of -62.71 and a beta of 1.86. Genius Sports Limited has a 52 week low of $6.37 and a 52 week high of $12.45. The company has a 50-day simple moving average of $10.31 and a 200 day simple moving average of $9.91.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). The company had revenue of $118.72 million for the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) earnings per share. On average, analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports declared that its Board of Directors has approved a stock buyback program on Tuesday, May 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows 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 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.