Gabelli Funds LLC Sells 24,500 Shares of Genius Sports Limited (NYSE:GENI)

Gabelli Funds LLC trimmed its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 34.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,500 shares of the company's stock after selling 24,500 shares during the period. Gabelli Funds LLC's holdings in Genius Sports were worth $411,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GENI. Loomis Sayles & Co. L P purchased a new stake in Genius Sports during the fourth quarter worth approximately $15,553,000. Raymond James Financial Inc. acquired a new stake in Genius Sports in the 4th quarter valued at $12,332,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Genius Sports in the fourth quarter worth about $11,292,000. Nixon Capital LLC acquired a new stake in Genius Sports during the 4th quarter valued at $8,463,000. Finally, JPMorgan Chase & Co. increased its stake in 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 buying an additional 957,559 shares during the period. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Stock Performance

Shares of GENI stock traded up $0.25 on Friday, reaching $10.81. 1,775,213 shares of the company's stock traded hands, compared to its average volume of 2,672,919. Genius Sports Limited has a 12-month low of $4.91 and a 12-month high of $11.16. The company has a market capitalization of $2.33 billion, a P/E ratio of -33.75 and a beta of 1.98. The business's 50 day moving average price is $9.64 and its two-hundred day moving average price is $8.99.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) EPS 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 company 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 business posted ($0.10) earnings per share. Research analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on GENI shares. Lake Street Capital lifted their target price on Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group upped their target price on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a report on Wednesday, March 5th. JMP Securities reissued a "market outperform" rating and issued a $11.00 price target on shares of Genius Sports in a report on Monday, January 27th. Guggenheim assumed coverage on Genius Sports in a research note on Tuesday, March 18th. They set a "buy" rating and a $12.00 price objective for the company. Finally, Craig Hallum set a $15.00 target price on Genius Sports in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Genius Sports has an average rating of "Moderate Buy" and a consensus price target of $12.19.

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.