Kingswood Wealth Advisors LLC Makes New Investment in Genius Sports Limited $GENI

Kingswood Wealth Advisors LLC bought a new position in shares of Genius Sports Limited (NYSE:GENI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 39,007 shares of the company’s stock, valued at approximately $406,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GENI. The Manufacturers Life Insurance Company bought a new position in Genius Sports during the first quarter worth about $28,280,000. Millennium Management LLC boosted its holdings in Genius Sports by 1,579.0% during the first quarter. Millennium Management LLC now owns 2,766,206 shares of the company’s stock worth $27,690,000 after buying an additional 2,601,453 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Genius Sports by 25.4% during the first quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company’s stock worth $102,547,000 after buying an additional 2,076,590 shares during the last quarter. Voss Capital LP boosted its holdings in Genius Sports by 17.0% during the first quarter. Voss Capital LP now owns 9,269,519 shares of the company’s stock worth $92,788,000 after buying an additional 1,346,087 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Genius Sports during the first quarter worth about $12,264,000. Institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GENI shares. Truist Financial started coverage on Genius Sports in a report on Tuesday, July 1st. They set a “buy” rating and a $14.00 price objective on the stock. Benchmark lifted their price objective on Genius Sports from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Northland Securities started coverage on Genius Sports in a report on Friday, July 25th. They set an “outperform” rating and a $14.00 price objective on the stock. Arete Research upgraded Genius Sports to a “strong-buy” rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group lifted their price objective on Genius Sports from $12.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.22.

Genius Sports Stock Performance

Shares of Genius Sports stock opened at $11.52 on Friday. The business’s 50 day simple moving average is $12.57 and its 200 day simple moving average is $10.98. Genius Sports Limited has a 52-week low of $6.72 and a 52-week high of $13.73. The firm has a market cap of $2.48 billion, a PE ratio of -37.16 and a beta of 1.85.

Genius Sports (NYSE:GENI) last announced its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The firm had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. During the same period in the prior year, the business posted ($0.09) EPS. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. As a group, equities research analysts predict that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports Company 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.