Polar Asset Management Partners Inc. Takes $8.08 Million Position in Genius Sports Limited (NYSE:GENI)

Polar Asset Management Partners Inc. purchased a new stake in Genius Sports Limited (NYSE:GENI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 934,100 shares of the company's stock, valued at approximately $8,080,000. Polar Asset Management Partners Inc. owned about 0.43% of Genius Sports as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of GENI. JPMorgan Chase & Co. increased its holdings 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 buying an additional 691,423 shares during the last quarter. AMI Asset Management Corp bought a new position in shares of Genius Sports during the fourth quarter worth about $560,000. Exchange Traded Concepts LLC lifted its position in shares of Genius Sports by 34.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 394,175 shares of the company's stock worth $3,410,000 after purchasing an additional 100,350 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of Genius Sports during the fourth quarter worth about $136,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Genius Sports in the fourth quarter valued at approximately $1,491,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on GENI shares. Lake Street Capital raised their price target on shares of Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Benchmark restated a "buy" rating and issued a $12.00 price target on shares of Genius Sports in a research note on Thursday, April 17th. The Goldman Sachs Group raised their price objective 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. Guggenheim initiated coverage on shares of Genius Sports in a research note on Tuesday, March 18th. They set a "buy" rating and a $12.00 price objective on the stock. Finally, B. Riley reiterated a "buy" rating on shares of Genius Sports in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.19.

Genius Sports Price Performance

Genius Sports stock traded up $0.21 during midday trading on Wednesday, reaching $10.14. The stock had a trading volume of 2,501,962 shares, compared to its average volume of 2,902,419. The firm's fifty day simple moving average is $10.10 and its two-hundred day simple moving average is $9.40. Genius Sports Limited has a twelve month low of $5.03 and a twelve month high of $11.40. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -31.73 and a beta of 1.96.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) 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 firm had revenue of $143.99 million during the quarter, compared to analyst estimates of $143.31 million. During the same quarter last year, the business posted ($0.11) EPS. The company's revenue was up 20.3% on a year-over-year basis. As a group, sell-side analysts predict that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

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