Formula Growth Ltd. bought a new position in Genius Sports Limited (NYSE:GENI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 377,220 shares of the company's stock, valued at approximately $3,263,000. Formula Growth Ltd. owned about 0.18% of Genius Sports at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Stifel Financial Corp bought a new stake in shares of Genius Sports in the 3rd quarter valued at about $561,000. State Street Corp raised its holdings in Genius Sports by 237.8% in the third quarter. State Street Corp now owns 135,859 shares of the company's stock worth $1,065,000 after purchasing an additional 95,642 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Genius Sports during the third quarter worth $221,000. Tidal Investments LLC acquired a new position in shares of Genius Sports in the 3rd quarter valued at $371,000. Finally, JPMorgan Chase & Co. increased its position in shares of Genius Sports by 2,765,692.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 691,448 shares of the company's stock valued at $5,421,000 after buying an additional 691,423 shares in the last quarter. Institutional investors own 81.91% of the company's stock.
Genius Sports Stock Performance
GENI traded down $0.46 during trading on Monday, reaching $9.87. 2,004,664 shares of the stock were exchanged, compared to its average volume of 2,655,238. The stock's 50 day moving average price is $9.60 and its two-hundred day moving average price is $8.95. Genius Sports Limited has a twelve month low of $4.91 and a twelve month high of $11.16. The stock has a market cap of $2.12 billion, a P/E ratio of -30.84 and a beta of 1.98.
Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm had revenue of $175.53 million for the quarter, compared to analyst estimates of $175.52 million. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. Equities research analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.
Analysts Set New Price Targets
GENI has been the subject of several recent analyst reports. JMP Securities restated a "market outperform" rating and issued a $11.00 price target on shares of Genius Sports in a report on Monday, January 27th. B. Riley began coverage on shares of Genius Sports in a research note on Tuesday, March 18th. They issued a "buy" rating on the stock. Guggenheim initiated coverage on shares of Genius Sports in a report on Tuesday, March 18th. They set a "buy" rating and a $12.00 price objective on the stock. Needham & Company LLC set a $13.00 target price on Genius Sports in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group upped their price objective on Genius Sports from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.21.
Check Out Our Latest Stock Report on Genius Sports
Genius Sports Profile
(
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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