Perigon Wealth Management LLC Invests $136,000 in Genius Sports Limited (NYSE:GENI)

Perigon Wealth Management LLC bought a new stake in Genius Sports Limited (NYSE:GENI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,500 shares of the company’s stock, valued at approximately $136,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GENI. Wellington Management Group LLP boosted its position in Genius Sports by 2.9% during the third quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after purchasing an additional 230,209 shares during the period. Senvest Management LLC increased its position in Genius Sports by 12.2% during the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after purchasing an additional 819,385 shares during the period. Massachusetts Financial Services Co. MA increased its position in Genius Sports by 10.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock valued at $58,959,000 after purchasing an additional 691,539 shares during the period. FMR LLC lifted its holdings in shares of Genius Sports by 53.2% in the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares in the last quarter. Finally, Portolan Capital Management LLC lifted its holdings in shares of Genius Sports by 9.4% in the 3rd quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock worth $24,860,000 after purchasing an additional 272,545 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GENI has been the topic of a number of recent analyst reports. Benchmark lifted their target price on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 target price on shares of Genius Sports in a research note on Monday, January 27th. B. Riley upped their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Genius Sports in a report on Friday, January 17th. Finally, Oppenheimer increased their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.28.

Genius Sports Stock Performance

GENI opened at $8.81 on Tuesday. The business’s 50 day moving average price is $9.05 and its 200 day moving average price is $8.05. Genius Sports Limited has a one year low of $4.91 and a one year high of $10.33. The stock has a market capitalization of $1.90 billion, a PE ratio of -27.52 and a beta of 2.15.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating 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 for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. As a group, equities research analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current fiscal 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.