Portolan Capital Management LLC Has $26.55 Million Stock Position in Genius Sports Limited (NYSE:GENI)

Portolan Capital Management LLC trimmed its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,069,558 shares of the company's stock after selling 101,333 shares during the period. Genius Sports makes up 1.8% of Portolan Capital Management LLC's portfolio, making the stock its 13th biggest holding. Portolan Capital Management LLC owned approximately 1.43% of Genius Sports worth $26,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new position in Genius Sports during the third quarter valued at about $84,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock worth $105,000 after purchasing an additional 3,429 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in Genius Sports in the 4th quarter valued at about $136,000. Envestnet Asset Management Inc. raised its position in Genius Sports by 27.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock worth $143,000 after purchasing an additional 3,548 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in Genius Sports in the 4th quarter worth approximately $163,000. Institutional investors and hedge funds own 81.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GENI shares. Guggenheim initiated coverage on Genius Sports in a research report on Tuesday, March 18th. They issued a "buy" rating and a $12.00 price objective for the company. Lake Street Capital raised their price objective on Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group lifted their price target 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. Citizens Jmp downgraded shares of Genius Sports from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Finally, JMP Securities restated a "market outperform" rating and set a $11.00 price objective on shares of Genius Sports in a report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Genius Sports presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.23.

Genius Sports Stock Performance

NYSE GENI traded up $0.13 during trading hours on Friday, hitting $10.35. 3,469,757 shares of the company traded hands, compared to its average volume of 2,649,449. The business's 50-day moving average is $9.57 and its 200-day moving average is $8.89. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -32.33 and a beta of 1.98. Genius Sports Limited has a twelve month low of $4.91 and a twelve month high of $11.16.

Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results 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). The firm had revenue of $175.53 million during the quarter, compared to the consensus estimate of $175.52 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same period in the prior year, the business posted ($0.10) earnings per share. Analysts predict that Genius Sports Limited will post -0.1 EPS for the current year.

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.