Stifel Financial Corp Increases Stock Position in Genius Sports Limited (NYSE:GENI)

Stifel Financial Corp grew its stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 63.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,700 shares of the company's stock after buying an additional 45,175 shares during the quarter. Stifel Financial Corp owned about 0.05% of Genius Sports worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GENI. D.A. Davidson & CO. lifted its stake in Genius Sports by 2.7% in the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company's stock valued at $464,000 after acquiring an additional 1,396 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Genius Sports by 39.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after purchasing an additional 3,429 shares during the period. Envestnet Asset Management Inc. increased its position in Genius Sports by 27.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock worth $143,000 after acquiring an additional 3,548 shares during the period. Arete Wealth Advisors LLC increased its holdings in Genius Sports by 29.5% in the 4th 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 period. Finally, Victory Capital Management Inc. lifted its position in Genius Sports by 22.2% during the 4th quarter. Victory Capital Management Inc. now owns 23,769 shares of the company's stock worth $206,000 after buying an additional 4,321 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GENI has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of Genius Sports from $11.00 to $12.50 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Benchmark reiterated a "buy" rating and issued a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. BTIG Research lifted their price objective on Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Guggenheim initiated coverage on Genius Sports in a report on Tuesday, March 18th. They set a "buy" rating and a $12.00 price target for the company. Finally, Lake Street Capital raised their target price on Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.19.

Genius Sports Stock Performance

Shares of GENI traded down $0.11 during trading hours on Wednesday, hitting $10.25. The stock had a trading volume of 1,007,177 shares, compared to its average volume of 2,813,634. Genius Sports Limited has a 12-month low of $5.03 and a 12-month high of $11.40. The firm has a market cap of $2.21 billion, a P/E ratio of -32.02 and a beta of 1.96. The company's fifty day simple moving average is $10.04 and its 200 day simple moving average 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) 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 earnings per share for the current fiscal year.

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

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.