Wellington Management Group LLP Acquires 230,209 Shares of Genius Sports Limited (NYSE:GENI)

Wellington Management Group LLP lifted its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 2.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,292,521 shares of the company's stock after purchasing an additional 230,209 shares during the quarter. Wellington Management Group LLP owned 3.61% of Genius Sports worth $65,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Genius Sports by 42.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company's stock valued at $98,000 after purchasing an additional 5,342 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Genius Sports in the 3rd quarter worth about $78,000. Arkadios Wealth Advisors acquired a new stake in Genius Sports during the 3rd quarter worth about $79,000. Captrust Financial Advisors purchased a new position in Genius Sports during the 3rd quarter valued at about $84,000. Finally, Koss Olinger Consulting LLC purchased a new position in Genius Sports during the 2nd quarter valued at about $64,000. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Stock Performance

Shares of GENI traded down $0.12 during trading hours on Wednesday, hitting $9.21. 3,095,258 shares of the company were exchanged, compared to its average volume of 2,427,498. The company has a market cap of $2.11 billion, a PE ratio of -29.19 and a beta of 2.12. The firm's 50 day moving average is $8.24 and its 200-day moving average is $7.10. Genius Sports Limited has a 52 week low of $4.91 and a 52 week high of $10.33.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.94 million. During the same quarter last year, the company posted ($0.06) earnings per share. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, equities analysts forecast that Genius Sports Limited will post -0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Citigroup raised their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Macquarie lifted 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. The Goldman Sachs Group upped their price target on shares of Genius Sports from $8.50 to $11.50 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Oppenheimer lifted their price objective on Genius Sports from $10.00 to $12.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, B. Riley boosted their target price on Genius Sports from $10.00 to $12.00 and gave the company a "buy" 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, the company has a consensus rating of "Buy" and an average price target of $10.72.

Genius Sports Company Profile

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.