Genius Sports Limited (NYSE:GENI) Stock Position Lowered by Portolan Capital Management LLC

Portolan Capital Management LLC trimmed its position in Genius Sports Limited (NYSE:GENI - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,069,558 shares of the company's stock after selling 101,333 shares during the quarter. Genius Sports accounts for approximately 1.8% of Portolan Capital Management LLC's portfolio, making the stock its 13th largest holding. Portolan Capital Management LLC owned about 1.43% of Genius Sports worth $26,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Genius Sports in the fourth quarter worth about $12,332,000. JPMorgan Chase & Co. lifted its position in Genius Sports by 138.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock worth $14,264,000 after acquiring an additional 957,559 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in Genius Sports in the 4th quarter worth approximately $136,000. D.A. Davidson & CO. grew its position in Genius Sports by 2.7% in the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company's stock valued at $464,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Genius Sports during the fourth quarter valued at approximately $11,292,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GENI has been the subject of a number of recent analyst reports. Needham & Company LLC set a $13.00 price target on shares of Genius Sports in a report on Wednesday, March 5th. Craig Hallum set a $15.00 target price on Genius Sports in a research report on Tuesday, March 4th. Guggenheim assumed coverage on Genius Sports in a report on Tuesday, March 18th. They issued a "buy" rating and a $12.00 price target for the company. Citizens Jmp lowered Genius Sports from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Finally, B. Riley assumed coverage on shares of Genius Sports in a research report on Tuesday, March 18th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Genius Sports has a consensus rating of "Moderate Buy" and a consensus target price of $12.23.

Genius Sports Stock Performance

Shares of GENI traded up $0.13 during mid-day trading on Friday, reaching $10.35. 3,469,757 shares of the company's stock traded hands, compared to its average volume of 2,652,538. The business's 50-day moving average price is $9.59 and its 200-day moving average price is $8.91. The stock has a market capitalization of $2.23 billion, a P/E ratio of -32.33 and a beta of 1.98. Genius Sports Limited has a 12 month low of $4.91 and a 12 month high of $11.16.

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

About Genius Sports

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.