Massachusetts Financial Services Co. MA Boosts Stock Holdings in Genius Sports Limited (NYSE:GENI)

Massachusetts Financial Services Co. MA raised its stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,520,342 shares of the company's stock after buying an additional 691,539 shares during the period. Massachusetts Financial Services Co. MA owned about 3.28% of Genius Sports worth $58,959,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Divisadero Street Capital Management LP bought a new position in Genius Sports in the 2nd quarter worth $11,233,000. Bank of Montreal Can bought a new position in shares of Genius Sports during the 2nd quarter worth about $6,575,000. Rice Hall James & Associates LLC bought a new position in shares of Genius Sports during the 2nd quarter worth about $5,521,000. AYAL Capital Advisors Ltd bought a new position in shares of Genius Sports during the 2nd quarter worth about $4,635,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Genius Sports during the 2nd quarter valued at about $1,804,000. Institutional investors and hedge funds own 81.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GENI. Benchmark upped their target price on shares of Genius Sports from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday, November 12th. The Goldman Sachs Group upped their price target on shares of Genius Sports from $8.50 to $11.50 and gave the company a "buy" rating in a report on Thursday, November 14th. B. Riley upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Macquarie upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports currently has an average rating of "Buy" and an average price target of $10.39.

Genius Sports Price Performance

Shares of GENI traded up $0.25 during trading hours on Monday, hitting $9.32. The company had a trading volume of 2,736,421 shares, compared to its average volume of 2,392,084. Genius Sports Limited has a 12 month low of $4.91 and a 12 month high of $10.15. The business has a fifty day moving average of $7.80 and a 200-day moving average of $6.74.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly 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 net margin of 15.84% and a negative return on equity of 14.11%. The company had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.94 million. During the same period last year, the company posted ($0.06) EPS. The firm's quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts forecast that Genius Sports Limited will post -0.16 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.