Formula Growth Ltd. Invests $3.26 Million in Genius Sports Limited (NYSE:GENI)

Formula Growth Ltd. purchased a new stake in Genius Sports Limited (NYSE:GENI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 377,220 shares of the company's stock, valued at approximately $3,263,000. Formula Growth Ltd. owned approximately 0.18% of Genius Sports as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its position in shares of Genius Sports by 39.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock worth $105,000 after buying an additional 3,429 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of Genius Sports in the fourth quarter worth about $136,000. Envestnet Asset Management Inc. boosted its stake in shares of Genius Sports by 27.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock valued at $143,000 after purchasing an additional 3,548 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Genius Sports during the 4th quarter valued at approximately $163,000. Finally, Arete Wealth Advisors LLC increased its position in Genius Sports by 29.5% during the 4th quarter. Arete Wealth Advisors LLC now owns 18,900 shares of the company's stock worth $163,000 after purchasing an additional 4,300 shares in the last quarter. Institutional investors own 81.91% of the company's stock.

Genius Sports Stock Up 0.5 %

GENI traded up $0.06 during trading on Thursday, reaching $10.53. 983,504 shares of the stock traded hands, compared to its average volume of 3,223,207. The stock's 50-day moving average is $9.63 and its 200 day moving average is $8.97. Genius Sports Limited has a 12 month low of $4.91 and a 12 month high of $11.16. The stock has a market capitalization of $2.27 billion, a PE ratio of -32.92 and a beta of 1.98.

Genius Sports (NYSE:GENI - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). The business had revenue of $175.53 million during the quarter, compared to the consensus estimate of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. As a group, equities research analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GENI. Craig Hallum set a $15.00 price target on Genius Sports in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on Genius Sports in a research note on Monday. They set a "buy" rating and a $12.00 price target on the stock. B. Riley initiated coverage on Genius Sports in a research note on Tuesday, March 18th. They issued a "buy" rating for the company. Benchmark reiterated a "buy" rating and set a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. Finally, Needham & Company LLC set a $13.00 price target on shares of Genius Sports in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.19.

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.