D.A. Davidson & CO. Invests $409,000 in Genius Sports Limited (NYSE:GENI)

D.A. Davidson & CO. acquired a new stake in Genius Sports Limited (NYSE:GENI) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 52,212 shares of the company’s stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Senvest Management LLC boosted its holdings in shares of Genius Sports by 12.2% during the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after purchasing an additional 819,385 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Genius Sports by 10.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock worth $58,959,000 after buying an additional 691,539 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in Genius Sports during the second quarter worth $11,233,000. Hood River Capital Management LLC grew its holdings in Genius Sports by 6.0% in the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock valued at $11,046,000 after buying an additional 114,490 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Genius Sports in the 2nd quarter worth $6,575,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GENI shares. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday, November 12th. Oppenheimer boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their price target on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a report on Thursday, November 14th. Citigroup lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, B. Riley increased their price objective on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $10.72.

Genius Sports Stock Performance

GENI opened at $10.00 on Wednesday. Genius Sports Limited has a 52 week low of $4.91 and a 52 week high of $10.15. The business has a fifty day simple moving average of $8.03 and a 200-day simple moving average of $6.92.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. Genius Sports’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, equities analysts forecast that Genius Sports Limited will post -0.16 EPS for the current year.

About Genius Sports

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.