Short Interest in Genius Sports Limited (NYSE:GENI) Declines By 39.0%

Genius Sports Limited (NYSE:GENI - Get Free Report) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 19,140,000 shares, a decrease of 39.0% from the April 30th total of 31,360,000 shares. Approximately 8.9% of the shares of the company are short sold. Based on an average daily trading volume, of 4,270,000 shares, the short-interest ratio is presently 4.5 days.

Hedge Funds Weigh In On Genius Sports

Several institutional investors have recently modified their holdings of the company. Capital Research Global Investors increased its position in shares of Genius Sports by 14.2% during the 4th quarter. Capital Research Global Investors now owns 12,952,320 shares of the company's stock valued at $112,038,000 after purchasing an additional 1,610,078 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Genius Sports by 25.4% during the 1st quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company's stock valued at $102,547,000 after purchasing an additional 2,076,590 shares during the last quarter. Voss Capital LP increased its position in shares of Genius Sports by 17.0% during the 1st quarter. Voss Capital LP now owns 9,269,519 shares of the company's stock valued at $92,788,000 after purchasing an additional 1,346,087 shares during the last quarter. Granahan Investment Management LLC increased its position in shares of Genius Sports by 0.8% during the 4th quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company's stock valued at $68,886,000 after purchasing an additional 64,752 shares during the last quarter. Finally, Hood River Capital Management LLC increased its position 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 valued at $43,477,000 after purchasing an additional 295,485 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Price Performance

NYSE GENI traded down $0.21 during trading on Monday, reaching $9.39. The company's stock had a trading volume of 1,288,730 shares, compared to its average volume of 2,977,952. The stock has a market capitalization of $2.02 billion, a PE ratio of -29.36 and a beta of 1.96. The firm has a fifty day moving average of $10.08 and a 200 day moving average of $9.51. Genius Sports has a one year low of $5.06 and a one year high of $11.40.

Genius Sports (NYSE:GENI - Get Free Report) last announced its 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 business had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company's quarterly revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) EPS. Research analysts expect that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently issued reports on GENI shares. Lake Street Capital boosted their price objective on Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. B. Riley reiterated a "buy" rating on shares of Genius Sports in a research note on Wednesday, May 7th. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Genius Sports in a research note on Tuesday, May 6th. Craig Hallum set a $15.00 price objective on Genius Sports in a research note on Tuesday, March 4th. Finally, BTIG Research boosted their price objective on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.