Fmr LLC Acquires 2,507,165 Shares of Genius Sports Limited (NYSE:GENI)

FMR LLC grew its position in Genius Sports Limited (NYSE:GENI - Free Report) by 53.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,219,874 shares of the company's stock after acquiring an additional 2,507,165 shares during the period. FMR LLC owned about 3.15% of Genius Sports worth $56,604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GENI. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Genius Sports by 42.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company's stock valued at $98,000 after purchasing an additional 5,342 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Genius Sports in the 3rd quarter valued at about $78,000. Arkadios Wealth Advisors bought a new position in Genius Sports in the 3rd quarter valued at about $79,000. Koss Olinger Consulting LLC acquired a new stake in Genius Sports during the second quarter worth approximately $64,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Genius Sports during the second quarter worth approximately $67,000. 81.91% of the stock is owned by institutional investors.

Genius Sports Price Performance

Shares of NYSE:GENI traded down $0.11 during trading on Friday, reaching $9.72. 2,606,983 shares of the stock were exchanged, compared to its average volume of 3,542,261. The stock has a fifty day moving average of $8.17 and a two-hundred day moving average of $7.02. Genius Sports Limited has a 1-year low of $4.91 and a 1-year high of $10.33.

Genius Sports (NYSE:GENI - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same quarter last year, the company earned ($0.06) earnings per share. The company's revenue for the quarter was up 18.2% on a year-over-year basis. Sell-side analysts forecast that Genius Sports Limited will post -0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on GENI. Oppenheimer lifted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Citigroup boosted their price target on Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. The Goldman Sachs Group increased their price target on Genius Sports from $8.50 to $11.50 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Genius Sports in a report on Tuesday, November 12th. Finally, Benchmark increased their target price on Genius Sports from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $10.72.

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.