Polar Asset Management Partners Inc. acquired a new stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 934,100 shares of the company's stock, valued at approximately $8,080,000. Polar Asset Management Partners Inc. owned 0.43% of Genius Sports as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Genius Sports in the fourth quarter valued at about $12,332,000. JPMorgan Chase & Co. boosted its stake in shares of 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 during the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of Genius Sports in the 4th quarter worth $136,000. D.A. Davidson & CO. lifted its position in Genius Sports by 2.7% during the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company's stock valued at $464,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Genius Sports in the fourth quarter worth about $11,292,000. Institutional investors own 81.91% of the company's stock.
Genius Sports Price Performance
Shares of GENI traded up $0.12 during mid-day trading on Monday, reaching $10.02. 2,973,644 shares of the company's stock traded hands, compared to its average volume of 2,899,787. The stock's 50-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 stock has a market cap of $2.16 billion, a P/E ratio of -31.31 and a beta of 1.96.
Genius Sports (NYSE:GENI - Get Free Report) last released 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 business's revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) earnings per share. Research analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current year.
Genius Sports declared that its Board of Directors has initiated a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
GENI has been the subject of several analyst reports. Guggenheim initiated coverage on shares of Genius Sports in a report on Tuesday, March 18th. They issued a "buy" rating and a $12.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Wednesday, March 5th. JMP Securities reiterated a "market outperform" rating and issued a $11.00 price target on shares of Genius Sports in a research note on Monday, January 27th. 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 report on Tuesday, April 22nd. Finally, B. Riley reaffirmed a "buy" rating on shares of Genius Sports in a research note 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.19.
Get Our Latest Stock Analysis on GENI
Genius Sports Company Profile
(
Free Report)
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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