Y Intercept Hong Kong Ltd Buys New Stake in Genius Sports Limited (NYSE:GENI)

Key Points

• Y Intercept Hong Kong Ltd has made a significant investment of $749,000 in Genius Sports Limited, acquiring 74,811 shares in the first quarter.
• Several institutional investors have increased their holdings in Genius Sports, with 81.91% of the stock now owned by institutional investors and hedge funds.
• Analysts currently have a consensus rating of "Buy" for Genius Sports, with target prices ranging from $12.00 to $15.00.

Y Intercept Hong Kong Ltd bought a new position in Genius Sports Limited (NYSE:GENI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 74,811 shares of the company's stock, valued at approximately $749,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GENI. Emerald Mutual Fund Advisers Trust purchased a new position in Genius Sports during the 4th quarter worth approximately $58,000. Park National Corp OH acquired a new stake in shares of Genius Sports in the first quarter worth $107,000. Bayesian Capital Management LP purchased a new position in shares of Genius Sports during the fourth quarter valued at $129,000. Envestnet Asset Management Inc. grew its holdings in shares of Genius Sports by 27.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock valued at $143,000 after buying an additional 3,548 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Genius Sports by 19.4% in the 4th quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock worth $148,000 after acquiring an additional 2,787 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Price Performance

Shares of NYSE GENI traded down $0.10 during trading hours on Friday, hitting $10.63. 2,186,382 shares of the company's stock were exchanged, compared to its average volume of 4,195,137. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -55.93 and a beta of 1.86. The company's 50-day moving average price is $10.09 and its 200-day moving average price is $9.78. Genius Sports Limited has a 1-year low of $5.76 and a 1-year high of $11.74.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $143.99 million for the quarter, compared to the consensus estimate of $143.31 million. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. Genius Sports's quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) earnings per share. On average, research analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current year.

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

Analysts Set New Price Targets

Several research firms have weighed in on GENI. Northland Securities initiated coverage on Genius Sports in a research note on Friday. They set an "outperform" rating and a $14.00 target price on the stock. Arete started coverage on shares of Genius Sports in a research report on Wednesday, July 9th. They set a "buy" rating and a $15.00 price objective on the stock. Northland Capmk upgraded shares of Genius Sports to a "strong-buy" rating in a research report on Friday. Citigroup restated an "outperform" rating on shares of Genius Sports in a report on Monday, June 30th. Finally, Benchmark reissued a "buy" rating and set a $12.00 price objective on shares of Genius Sports in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $12.72.

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.