Genius Sports Limited (NYSE:GENI) Stake Reduced by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT reduced its position in shares of Genius Sports Limited (NYSE:GENI) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,245,605 shares of the company’s stock after selling 115,900 shares during the quarter. Genius Sports accounts for about 3.2% of Discovery Capital Management LLC CT’s investment portfolio, making the stock its 10th biggest holding. Discovery Capital Management LLC CT’s holdings in Genius Sports were worth $45,374,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Captrust Financial Advisors purchased a new position in shares of Genius Sports in the third quarter worth $84,000. Walleye Trading LLC increased its holdings in Genius Sports by 169.9% in the 3rd quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock worth $95,000 after buying an additional 29,555 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $105,000 after buying an additional 3,429 shares during the last quarter. Perigon Wealth Management LLC bought a new position in Genius Sports during the 4th quarter valued at about $136,000. Finally, Aigen Investment Management LP bought a new position in Genius Sports during the 4th quarter valued at about $163,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Stock Down 1.5 %

NYSE GENI opened at $9.99 on Tuesday. The stock’s 50-day moving average price is $9.39 and its 200-day moving average price is $8.74. The company has a market capitalization of $2.15 billion, a P/E ratio of -31.23 and a beta of 2.14. Genius Sports Limited has a 52 week low of $4.91 and a 52 week high of $11.16.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The firm had revenue of $175.53 million for the quarter, compared to the consensus estimate of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same quarter in the previous year, the business posted ($0.10) EPS. Research analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GENI. Citizens Jmp lowered shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. The Goldman Sachs Group boosted their target price on shares of Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and issued a $11.00 price target on shares of Genius Sports in a research note on Monday, January 27th. Needham & Company LLC set a $13.00 price objective on Genius Sports in a report on Wednesday, March 5th. Finally, B. Riley initiated coverage on Genius Sports in a report on Tuesday, March 18th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Genius Sports has a consensus rating of “Moderate Buy” and a consensus price target of $12.23.

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.