Verition Fund Management LLC acquired a new stake in shares of Genius Sports Limited (NYSE:GENI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 143,648 shares of the company's stock, valued at approximately $1,126,000. Verition Fund Management LLC owned 0.06% of Genius Sports as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in GENI. FMR LLC boosted its holdings in shares of Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company's stock valued at $56,604,000 after purchasing an additional 2,507,165 shares during the period. Divisadero Street Capital Management LP purchased a new stake in shares of Genius Sports in the 2nd quarter worth $11,233,000. Massachusetts Financial Services Co. MA grew its position in shares of Genius Sports by 28.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company's stock worth $37,217,000 after buying an additional 1,502,958 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Genius Sports during the second quarter valued at $6,575,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Genius Sports in the second quarter valued at about $5,521,000. 81.91% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday, November 12th. Citigroup increased their target price on Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. B. Riley upped their price objective on Genius Sports from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Benchmark lifted their target price on Genius Sports from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Oppenheimer raised their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $10.72.
Check Out Our Latest Report on GENI
Genius Sports Stock Down 1.1 %
Shares of GENI stock traded down $0.11 on Friday, hitting $9.72. The company had a trading volume of 2,606,983 shares, compared to its average volume of 3,542,261. The firm has a market cap of $2.23 billion, a P/E ratio of -30.38 and a beta of 2.12. Genius Sports Limited has a twelve month low of $4.91 and a twelve month high of $10.33. The company has a 50-day moving average price of $8.17 and a 200-day moving average price of $7.03.
Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business 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 firm posted ($0.06) earnings per share. The company's revenue was up 18.2% compared to the same quarter last year. Equities research analysts expect that Genius Sports Limited will post -0.16 EPS for the current year.
About Genius Sports
(
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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