Occudo Quantitative Strategies LP Boosts Stock Position in Genius Sports Limited (NYSE:GENI)

Occudo Quantitative Strategies LP raised its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 42.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 94,562 shares of the company's stock after purchasing an additional 28,153 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Genius Sports were worth $818,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. D.A. Davidson & CO. raised its holdings in Genius Sports by 2.7% during the 4th quarter. D.A. Davidson & CO. now owns 53,608 shares of the company's stock valued at $464,000 after buying an additional 1,396 shares during the period. Steward Partners Investment Advisory LLC lifted its stake 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 purchasing an additional 3,429 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Genius Sports by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock worth $143,000 after purchasing an additional 3,548 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in Genius Sports by 29.5% in the fourth quarter. Arete Wealth Advisors LLC now owns 18,900 shares of the company's stock valued at $163,000 after buying an additional 4,300 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Genius Sports by 22.2% in the fourth quarter. Victory Capital Management Inc. now owns 23,769 shares of the company's stock valued at $206,000 after buying an additional 4,321 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Price Performance

Shares of GENI stock traded up $0.02 during trading hours on Monday, reaching $9.92. 614,226 shares of the stock were exchanged, compared to its average volume of 2,891,201. The business's fifty day moving average is $10.07 and its two-hundred day moving average is $9.37. Genius Sports Limited has a 12-month low of $5.03 and a 12-month high of $11.40. The firm has a market capitalization of $2.13 billion, a P/E ratio of -31.05 and a beta of 1.96.

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

Genius Sports announced that its board has approved a share buyback program on Tuesday, May 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Guggenheim assumed coverage on Genius Sports in a report on Tuesday, March 18th. They set a "buy" rating and a $12.00 target price on the stock. Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a report on Thursday, April 17th. Craig Hallum set a $15.00 price objective on Genius Sports in a report on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, BTIG Research boosted their price target on Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Genius Sports has an average rating of "Moderate Buy" and an average price target 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.