Gerber Kawasaki Wealth & Investment Management Increases Stock Holdings in Genius Sports Limited $GENI
Gerber Kawasaki Wealth & Investment Management increased its holdings in Genius Sports Limited (NYSE:GENI) by 72.7% in Q1, owning 89,619 shares valued at $897,000. Other institutional investors also raised their stakes, with Wellington Management increasing its position by 25.4%. Analysts have given Genius Sports a consensus "Buy" rating, with a target price of $14.00. The stock opened at $12.81, with a market cap of $2.76 billion. Genius Sports reported a revenue of $118.72 million for the last quarter, up 24.4% year-over-year, despite missing EPS estimates.
Gerber Kawasaki Wealth & Investment Management increased its holdings in Genius Sports Limited (NYSE:GENI - Free Report) by 72.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,619 shares of the company's stock after purchasing an additional 37,739 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Genius Sports were worth $897,000 as of its most recent SEC filing.
- Sportradar Rides the Sports Betting Trend From Behind the Curtain
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Genius Sports by 25.4% in the first quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company's stock valued at $102,547,000 after purchasing an additional 2,076,590 shares during the period. Voss Capital LP grew its position in shares of Genius Sports by 17.0% in the first quarter. Voss Capital LP now owns 9,269,519 shares of the company's stock valued at $92,788,000 after purchasing an additional 1,346,087 shares during the period. Granahan Investment Management LLC grew its position in shares of Genius Sports by 0.8% in the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company's stock valued at $68,886,000 after purchasing an additional 64,752 shares during the period. Divisadero Street Capital Management LP grew its position in shares of Genius Sports by 32,386.5% in the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock valued at $30,723,000 after purchasing an additional 3,540,818 shares during the period. Finally, Driehaus Capital Management LLC grew its position in shares of Genius Sports by 22.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,889,112 shares of the company's stock valued at $24,991,000 after purchasing an additional 522,441 shares during the period. Hedge funds and other institutional investors own 81.91% of the company's stock.
Get Genius Sports alerts:
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on GENI shares. Northland Securities started coverage on Genius Sports in a research report on Friday, July 25th. They issued an "outperform" rating and a $14.00 price objective for the company. The Goldman Sachs Group lifted their target price on Genius Sports from $12.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Truist Financial started coverage on Genius Sports in a report on Tuesday, July 1st. They issued a "buy" rating and a $14.00 target price on the stock. Citigroup reiterated a "buy" rating and issued a $16.00 target price (up previously from $12.00) on shares of Genius Sports in a report on Tuesday, August 12th. Finally, Arete started coverage on Genius Sports in a report on Wednesday, July 9th. They issued a "buy" rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $14.00.
- How to Invest in Casino Stocks: Pros and Cons and More
Get Our Latest Research Report on GENI
Genius Sports Price Performance
Shares of GENI opened at $12.81 on Friday. The stock's 50-day moving average is $11.29 and its two-hundred day moving average is $10.32. The stock has a market cap of $2.76 billion, a PE ratio of -41.31 and a beta of 1.86. Genius Sports Limited has a 12 month low of $6.72 and a 12 month high of $13.24.
- Genius Sports Scores an 18-Month High on NFL Deal
Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). The company had revenue of $118.72 million for the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The company's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) EPS. On average, research analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current year.
Genius Sports declared that its Board of Directors has approved a share buyback program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.
Genius Sports Company Profile
(Free Report)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.
See Also
- Five stocks we like better than Genius Sports
- Energy and Oil Stocks Explained
- Snowflake’s Snowballing Business and Robust Stock Price Outlook
- What is the Hang Seng index?
- Chevron Stock Outlook: Dividend Growth Meets Inflation
- How to Profit From Growth Investing
- Best Buy Marketplace: Potential Growth Catalyst or Risky Gimmick?
Want to see what other hedge funds are holding GENI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genius Sports Limited (NYSE:GENI - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Genius Sports Right Now?
Before you consider Genius Sports, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Genius Sports wasn't on the list.
While Genius Sports currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
