Short Interest in Genius Sports Limited (NYSE:GENI) Drops By 39.0%

Genius Sports Limited (NYSE:GENI) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 14,702,536 shares, a decline of 39.0% from the December 15th total of 24,118,044 shares. Currently, 8.2% of the shares of the company are sold short. Based on an average daily volume of 3,088,090 shares, the short-interest ratio is currently 4.8 days. Based on an average daily volume of 3,088,090 shares, the short-interest ratio is currently 4.8 days. Currently, 8.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Genius Sports

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in shares of Genius Sports by 17.9% in the 3rd quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock valued at $167,298,000 after purchasing an additional 2,051,503 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in Genius Sports by 9.6% during the 2nd quarter. Cooper Creek Partners Management LLC now owns 9,191,865 shares of the company’s stock worth $95,595,000 after acquiring an additional 806,233 shares in the last quarter. Senvest Management LLC boosted its stake in Genius Sports by 1.4% in the second quarter. Senvest Management LLC now owns 7,813,156 shares of the company’s stock valued at $81,257,000 after acquiring an additional 107,083 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of Genius Sports by 3.3% during the second quarter. Hood River Capital Management LLC now owns 6,811,333 shares of the company’s stock worth $70,838,000 after purchasing an additional 215,384 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Genius Sports by 82.7% in the third quarter. Westfield Capital Management Co. LP now owns 5,850,083 shares of the company’s stock valued at $72,424,000 after purchasing an additional 2,647,948 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Price Performance

Genius Sports stock traded down $0.43 during midday trading on Friday, reaching $9.88. The company had a trading volume of 4,585,960 shares, compared to its average volume of 3,421,011. Genius Sports has a 12-month low of $8.15 and a 12-month high of $13.73. The company has a market capitalization of $2.13 billion, a P/E ratio of -21.02 and a beta of 1.81. The firm’s fifty day simple moving average is $10.37 and its 200-day simple moving average is $11.36.

Genius Sports (NYSE:GENI) last announced 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 net margin of 19.71% and a negative return on equity of 14.39%. On average, analysts expect that Genius Sports will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group set a $16.00 price objective on Genius Sports in a research note on Monday, December 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Genius Sports in a research report on Monday, December 29th. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Genius Sports in a research report on Tuesday, December 30th. Wells Fargo & Company raised shares of Genius Sports from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $16.00 in a report on Friday, January 9th. Finally, Zacks Research raised shares of Genius Sports from a “strong sell” rating to a “hold” rating in a report on Thursday, December 4th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Genius Sports presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

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.