Needham Investment Management LLC Grows Holdings in Genius Sports Limited $GENI

Needham Investment Management LLC grew its holdings in shares of Genius Sports Limited (NYSE:GENI) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,690,000 shares of the company’s stock after buying an additional 210,000 shares during the quarter. Genius Sports accounts for about 1.9% of Needham Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. Needham Investment Management LLC’s holdings in Genius Sports were worth $29,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. bought a new position in Genius Sports during the fourth quarter worth $63,000. Aster Capital Management DIFC Ltd bought a new position in Genius Sports during the third quarter worth $65,000. Osaic Holdings Inc. lifted 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 last quarter. Orion Porfolio Solutions LLC bought a new position in Genius Sports during the second quarter worth $112,000. Finally, Victory Financial Group LLC bought a new position in Genius Sports during the fourth quarter worth $113,000. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Stock Performance

GENI stock opened at $6.89 on Tuesday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -11.30 and a beta of 1.89. Genius Sports Limited has a 1 year low of $3.83 and a 1 year high of $13.73. The stock’s fifty day moving average is $5.04 and its two-hundred day moving average is $7.05.

Genius Sports (NYSE:GENI) last posted its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). The company had revenue of $187.95 million during the quarter, compared to the consensus estimate of $170.60 million. Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share. As a group, analysts predict that Genius Sports Limited will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GENI. UBS Group restated a “buy” rating on shares of Genius Sports in a research note on Wednesday, March 4th. Benchmark restated a “buy” rating on shares of Genius Sports in a research note on Thursday, March 5th. Citigroup reduced their price objective on Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wells Fargo & Company reduced their price objective on Genius Sports from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Finally, B. Riley Financial restated a “buy” rating on shares of Genius Sports in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.68.

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.