Polar Asset Management Partners Inc. Lowers Holdings in Genius Sports Limited $GENI

Polar Asset Management Partners Inc. decreased its holdings in shares of Genius Sports Limited (NYSE:GENI) by 33.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 579,146 shares of the company’s stock after selling 296,566 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.27% of Genius Sports worth $7,170,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GENI. Aster Capital Management DIFC Ltd acquired a new stake in shares of Genius Sports during the third quarter valued at about $65,000. Strs Ohio boosted its position in shares of Genius Sports by 178.9% during the third quarter. Strs Ohio now owns 5,300 shares of the company’s stock worth $66,000 after buying an additional 3,400 shares during the period. Bessemer Group Inc. raised its holdings in shares of Genius Sports by 1,163.1% in the 3rd quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock valued at $87,000 after buying an additional 6,455 shares during the period. CWM LLC boosted its holdings in Genius Sports by 106.3% during the 3rd quarter. CWM LLC now owns 8,209 shares of the company’s stock valued at $102,000 after acquiring an additional 4,229 shares during the period. Finally, Osaic Holdings Inc. increased its stake in Genius Sports by 72.6% during the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock worth $111,000 after purchasing an additional 4,477 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GENI has been the subject of several recent research reports. Stifel Nicolaus decreased their price target on shares of Genius Sports from $10.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, February 19th. Zacks Research upgraded shares of Genius Sports from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. Benchmark reaffirmed a “buy” rating on shares of Genius Sports in a report on Thursday, March 5th. Northland Securities set a $12.00 price target on shares of Genius Sports in a research note on Friday, February 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.84.

Genius Sports Stock Performance

Shares of NYSE:GENI opened at $4.79 on Thursday. Genius Sports Limited has a one year low of $4.76 and a one year high of $13.73. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -11.13 and a beta of 1.91. The company has a 50-day simple moving average of $7.33 and a 200-day simple moving average of $9.93.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). The company had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $234.94 million. Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The firm’s revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.12) earnings per share. As a group, research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.