Rice Hall James & Associates LLC Reduces Holdings in Genius Sports Limited $GENI

Rice Hall James & Associates LLC lessened its position in shares of Genius Sports Limited (NYSE:GENI) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 609,414 shares of the company’s stock after selling 113,606 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Genius Sports were worth $7,545,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. acquired a new position in Genius Sports in the second quarter valued at about $43,552,000. Invesco Ltd. lifted its holdings in shares of Genius Sports by 3,584.2% in the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock worth $34,233,000 after acquiring an additional 3,202,290 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Genius Sports during the 1st quarter worth approximately $28,280,000. Geode Capital Management LLC acquired a new stake in Genius Sports in the 2nd quarter valued at approximately $27,312,000. Finally, Millennium Management LLC increased its holdings in Genius Sports by 1,579.0% in the 1st quarter. Millennium Management LLC now owns 2,766,206 shares of the company’s stock valued at $27,690,000 after purchasing an additional 2,601,453 shares during the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Genius Sports Trading Up 1.1%

Shares of NYSE:GENI opened at $10.89 on Friday. Genius Sports Limited has a 52 week low of $8.15 and a 52 week high of $13.73. The company’s 50 day moving average is $10.62 and its two-hundred day moving average is $11.27. The company has a market cap of $2.34 billion, a PE ratio of -23.16 and a beta of 1.94.

Genius Sports (NYSE:GENI) last issued its earnings results on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). The firm had revenue of $166.28 million for the quarter, compared to analyst estimates of $156.24 million. Genius Sports had a negative return on equity of 14.39% and a negative net margin of 19.71%. As a group, equities research analysts expect that Genius Sports Limited will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Genius Sports in a research note on Tuesday, December 16th. Guggenheim set a $17.00 target price on shares of Genius Sports in a report on Thursday, December 4th. BTIG Research raised their price target on shares of Genius Sports from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. JMP Securities upped their price objective on Genius Sports from $13.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 3rd. Finally, New Street Research set a $17.00 target price on Genius Sports in a report on Thursday, December 4th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Genius Sports currently has an average rating of “Moderate Buy” and an average target price of $15.05.

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.