ARK Investment Management LLC reduced its stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 25.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,678,655 shares of the company's stock after selling 1,582,319 shares during the period. ARK Investment Management LLC owned 2.04% of Genius Sports worth $36,681,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GENI. Divisadero Street Capital Management LP purchased a new position in shares of Genius Sports during the 2nd quarter valued at $11,233,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Genius Sports by 28.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company's stock valued at $37,217,000 after acquiring an additional 1,502,958 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Genius Sports during the 2nd quarter valued at $6,575,000. Rice Hall James & Associates LLC bought a new stake in Genius Sports in the second quarter worth $5,521,000. Finally, AYAL Capital Advisors Ltd bought a new stake in Genius Sports in the second quarter worth $4,635,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.
Genius Sports Stock Performance
Shares of GENI traded up $0.04 during trading hours on Friday, reaching $7.79. 1,964,868 shares of the company traded hands, compared to its average volume of 2,307,033. The stock's fifty day moving average is $7.47 and its 200 day moving average is $6.43. The stock has a market cap of $1.79 billion, a P/E ratio of -18.00 and a beta of 1.98. Genius Sports Limited has a 1-year low of $4.73 and a 1-year high of $8.64.
Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The firm had revenue of $95.50 million for the quarter, compared to the consensus estimate of $94.15 million. Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. Genius Sports's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, equities research analysts predict that Genius Sports Limited will post -0.2 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the stock a "buy" rating in a report on Thursday, August 8th. B. Riley upped their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. Benchmark reiterated a "buy" rating and issued a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. Macquarie decreased their price objective on shares of Genius Sports from $10.00 to $9.00 and set an "outperform" rating for the company in a report on Thursday, July 18th. Finally, Needham & Company LLC reissued a "buy" rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday, August 6th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports presently has a consensus rating of "Buy" and a consensus price target of $9.45.
Get Our Latest Analysis on GENI
About Genius Sports
(
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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