K2 Principal Fund L.P. Makes New $1.73 Million Investment in Genius Sports Limited (NYSE:GENI)

K2 Principal Fund L.P. purchased a new stake in Genius Sports Limited (NYSE:GENI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 200,000 shares of the company's stock, valued at approximately $1,730,000. K2 Principal Fund L.P. owned 0.09% of Genius Sports as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GENI. Divisadero Street Capital Management LP raised its holdings in shares of Genius Sports by 32,386.5% during the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock worth $30,723,000 after acquiring an additional 3,540,818 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Genius Sports in the 4th quarter valued at about $24,712,000. Loomis Sayles & Co. L P bought a new stake in shares of Genius Sports in the fourth quarter valued at about $15,553,000. Capital Research Global Investors boosted its position in shares of Genius Sports by 14.2% during the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company's stock worth $112,038,000 after buying an additional 1,610,078 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Genius Sports during the fourth quarter worth about $12,332,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Price Performance

Shares of Genius Sports stock opened at $10.37 on Friday. Genius Sports Limited has a 1 year low of $5.03 and a 1 year high of $11.40. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -32.41 and a beta of 1.96. The business has a fifty day simple moving average of $10.01 and a two-hundred day simple moving average of $9.25.

Genius Sports (NYSE:GENI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business 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%. Genius Sports's revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) EPS. As a group, equities analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports announced that its board has initiated a stock buyback plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 4.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of Genius Sports in a report on Tuesday, May 6th. BTIG Research boosted their price target on shares of Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Lake Street Capital increased their price objective on shares of Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Benchmark reaffirmed a "buy" rating and issued a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. Finally, B. Riley reissued a "buy" rating on shares of Genius Sports in a research report on Wednesday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $12.19.

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.

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