Divisadero Street Capital Management LP Purchases Shares of 2,061,037 Genius Sports Limited (NYSE:GENI)

Divisadero Street Capital Management LP purchased a new position in shares of Genius Sports Limited (NYSE:GENI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,061,037 shares of the company’s stock, valued at approximately $11,233,000. Genius Sports accounts for 1.7% of Divisadero Street Capital Management LP’s investment portfolio, making the stock its 15th largest holding. Divisadero Street Capital Management LP owned 0.90% of Genius Sports as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. XTX Topco Ltd bought a new stake in shares of Genius Sports during the 2nd quarter valued at about $120,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Genius Sports during the 2nd quarter valued at $67,000. Renaissance Technologies LLC boosted its stake in Genius Sports by 9.4% during the second quarter. Renaissance Technologies LLC now owns 390,000 shares of the company’s stock worth $2,126,000 after acquiring an additional 33,522 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Genius Sports by 28.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after purchasing an additional 1,502,958 shares during the period. Finally, Rice Hall James & Associates LLC bought a new stake in Genius Sports in the second quarter valued at $5,521,000. Institutional investors own 81.91% of the company’s stock.

Genius Sports Stock Performance

NYSE:GENI opened at $7.87 on Friday. Genius Sports Limited has a 52 week low of $4.62 and a 52 week high of $8.15. The firm has a 50-day moving average price of $7.00 and a two-hundred day moving average price of $6.02. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -20.18 and a beta of 1.96.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The business had revenue of $95.50 million for the quarter, compared to analysts’ expectations of $94.15 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Genius Sports Limited will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on GENI shares. Benchmark restated a “buy” rating and issued a $10.00 target price on shares of Genius Sports in a research note on Tuesday, September 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday, August 6th. The Goldman Sachs Group lifted their price target on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup initiated coverage on shares of Genius Sports in a report on Thursday, June 13th. They set a “buy” rating and a $9.00 price objective on the stock. Finally, Macquarie reduced their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $9.45.

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.