Genius Sports Limited (NYSE:GENI) Stake Boosted by Granahan Investment Management LLC

Granahan Investment Management LLC grew its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,963,691 shares of the company's stock after acquiring an additional 64,752 shares during the quarter. Genius Sports accounts for approximately 2.9% of Granahan Investment Management LLC's portfolio, making the stock its 4th largest holding. Granahan Investment Management LLC owned about 3.70% of Genius Sports worth $68,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GENI. Tidal Investments LLC purchased a new stake in Genius Sports during the third quarter worth about $371,000. JPMorgan Chase & Co. increased its stake in shares of Genius Sports by 2,765,692.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 691,448 shares of the company's stock worth $5,421,000 after purchasing an additional 691,423 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Genius Sports by 56.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 491,314 shares of the company's stock worth $4,250,000 after purchasing an additional 176,845 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of Genius Sports by 1.5% during the 4th quarter. Moody National Bank Trust Division now owns 520,214 shares of the company's stock worth $4,500,000 after purchasing an additional 7,674 shares during the last quarter. Finally, AMI Asset Management Corp purchased a new stake in shares of Genius Sports during the 4th quarter worth approximately $560,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GENI. JMP Securities restated a "market outperform" rating and set a $11.00 price target on shares of Genius Sports in a research note on Monday, January 27th. Benchmark reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a report on Monday, April 21st. They issued a "buy" rating and a $12.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Genius Sports from $11.00 to $12.50 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, B. Riley reaffirmed a "buy" rating on shares of Genius Sports in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $12.19.

Genius Sports Stock Down 0.1%

Shares of NYSE GENI traded down $0.01 during mid-day trading on Tuesday, reaching $10.31. 3,323,959 shares of the company were exchanged, compared to its average volume of 2,820,589. Genius Sports Limited has a 52 week low of $5.03 and a 52 week high of $11.40. The stock has a market capitalization of $2.22 billion, a PE ratio of -32.22 and a beta of 1.96. The company's 50 day moving average price is $10.02 and its 200 day moving average price is $9.29.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. The company had revenue of $143.99 million during the quarter, compared to the consensus estimate of $143.31 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The firm's revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) EPS. On average, sell-side analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports declared that its board has initiated a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.4% of its stock through open market purchases. Stock repurchase plans are typically a sign 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.