Genius Sports Limited (NYSE:GENI) Shares Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC raised its holdings in Genius Sports Limited (NYSE:GENI) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 7,963,691 shares of the company’s stock after acquiring an additional 64,752 shares during the quarter. Genius Sports accounts for 2.9% of Granahan Investment Management LLC’s holdings, making the stock its 4th largest position. Granahan Investment Management LLC’s holdings in Genius Sports were worth $68,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GENI. Emerald Mutual Fund Advisers Trust bought a new position in Genius Sports in the 4th quarter valued at approximately $58,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $105,000 after buying an additional 3,429 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Genius Sports in the 4th quarter valued at $129,000. Perigon Wealth Management LLC acquired a new stake in shares of Genius Sports during the 4th quarter valued at $136,000. Finally, Envestnet Asset Management Inc. grew its position in Genius Sports by 27.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company’s stock worth $143,000 after acquiring an additional 3,548 shares during the last quarter. Institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GENI shares. BTIG Research increased their target price on Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Genius Sports in a report on Tuesday. Guggenheim assumed coverage on shares of Genius Sports in a report on Tuesday, March 18th. They set a “buy” rating and a $12.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price target on shares of Genius Sports in a research note on Monday, January 27th. Finally, B. Riley reissued a “buy” rating on shares of Genius Sports in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Genius Sports presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.19.

Genius Sports Trading Up 1.5 %

Shares of GENI opened at $10.37 on Friday. The firm’s fifty day simple moving average is $10.01 and its two-hundred day simple moving average is $9.23. Genius Sports Limited has a 12 month low of $5.03 and a 12 month high of $11.40. The stock has a market capitalization of $2.23 billion, a P/E ratio of -32.41 and a beta of 1.96.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) EPS. As a group, research analysts predict that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports declared that its board has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.