Discovery Capital Management LLC CT Cuts Stock Holdings in Genius Sports Limited (NYSE:GENI)

Discovery Capital Management LLC CT lessened its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,245,605 shares of the company's stock after selling 115,900 shares during the quarter. Genius Sports makes up approximately 3.2% of Discovery Capital Management LLC CT's portfolio, making the stock its 10th largest holding. Discovery Capital Management LLC CT owned 2.44% of Genius Sports worth $45,374,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Genius Sports by 53.2% in the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company's stock valued at $56,604,000 after acquiring an additional 2,507,165 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in Genius Sports during the 4th quarter valued at approximately $15,553,000. Raymond James Financial Inc. bought a new stake in shares of Genius Sports in the fourth quarter valued at approximately $12,332,000. Allspring Global Investments Holdings LLC bought a new stake in Genius Sports in the 4th quarter valued at $11,292,000. Finally, JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 957,559 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Trading Down 7.2 %

Shares of Genius Sports stock traded down $0.74 during trading on Thursday, reaching $9.51. The company's stock had a trading volume of 4,576,689 shares, compared to its average volume of 2,608,190. Genius Sports Limited has a one year low of $4.91 and a one year high of $11.16. The stock has a 50-day moving average price of $9.44 and a two-hundred day moving average price of $8.76. The stock has a market capitalization of $2.05 billion, a P/E ratio of -29.70 and a beta of 2.14.

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Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). The business had revenue of $175.53 million for the quarter, compared to the consensus estimate of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same period last year, the firm earned ($0.10) earnings per share. As a group, sell-side analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GENI shares. Benchmark lifted their target price on Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. B. Riley initiated coverage on Genius Sports in a report on Tuesday, March 18th. They set a "buy" rating on the stock. Guggenheim assumed coverage on Genius Sports in a research note on Tuesday, March 18th. They issued a "buy" rating and a $12.00 target price for the company. Citizens Jmp downgraded shares of Genius Sports from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group increased 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.23.

Genius Sports Company 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.