Greenwood Capital Associates LLC Makes New Investment in Genius Sports Limited (NYSE:GENI)

Greenwood Capital Associates LLC purchased a new stake in Genius Sports Limited (NYSE:GENI) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,755 shares of the company’s stock, valued at approximately $518,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Genius Sports in the 4th quarter worth $12,332,000. JPMorgan Chase & Co. boosted its position in shares of Genius Sports by 138.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company’s stock valued at $14,264,000 after purchasing an additional 957,559 shares during the period. D.A. Davidson & CO. increased its stake in Genius Sports by 2.7% in the 4th quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock worth $464,000 after purchasing an additional 1,396 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Genius Sports during the 4th quarter worth about $11,292,000. Finally, Nixon Capital LLC purchased a new stake in Genius Sports during the fourth quarter valued at about $8,463,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Price Performance

Shares of Genius Sports stock opened at $10.47 on Friday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -32.72 and a beta of 1.87. The stock has a 50-day simple moving average of $10.02 and a 200-day simple moving average of $9.53. Genius Sports Limited has a 52-week low of $5.09 and a 52-week high of $11.40.

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

Genius Sports announced that its Board of Directors has initiated a share buyback program on Tuesday, May 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

GENI has been the topic of several analyst reports. B. Riley reissued a “buy” rating on shares of Genius Sports in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a research report on Monday, April 21st. They set a “buy” rating and a $12.00 price objective on the stock. Craig Hallum set a $15.00 target price on shares of Genius Sports in a research note on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Genius Sports in a report on Thursday. Finally, The Goldman Sachs Group lifted their price target on Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Genius Sports presently has an average rating of “Moderate Buy” and a consensus target price of $12.19.

Genius Sports Profile

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.