Kingswood Wealth Advisors LLC Makes New Investment in Genius Sports Limited $GENI

Kingswood Wealth Advisors LLC acquired a new position in shares of Genius Sports Limited (NYSE:GENI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,007 shares of the company’s stock, valued at approximately $406,000.

Several other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Genius Sports by 25.4% during the first quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company’s stock worth $102,547,000 after acquiring an additional 2,076,590 shares in the last quarter. Voss Capital LP raised its stake in Genius Sports by 17.0% during the first quarter. Voss Capital LP now owns 9,269,519 shares of the company’s stock worth $92,788,000 after acquiring an additional 1,346,087 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Genius Sports during the first quarter worth $28,280,000. Voya Investment Management LLC raised its stake in Genius Sports by 20.1% during the first quarter. Voya Investment Management LLC now owns 2,781,888 shares of the company’s stock worth $27,847,000 after acquiring an additional 465,862 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Genius Sports by 1,579.0% during the first quarter. Millennium Management LLC now owns 2,766,206 shares of the company’s stock worth $27,690,000 after acquiring an additional 2,601,453 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GENI. The Goldman Sachs Group increased their target price on Genius Sports from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Needham & Company LLC increased their target price on Genius Sports from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Northland Securities began coverage on Genius Sports in a report on Friday, July 25th. They set an “outperform” rating and a $14.00 target price on the stock. Macquarie increased their target price on Genius Sports from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, JMP Securities increased their target price on Genius Sports from $13.00 to $15.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.22.

Genius Sports Trading Down 4.1%

Shares of NYSE GENI opened at $11.52 on Friday. The firm has a market capitalization of $2.48 billion, a PE ratio of -37.16 and a beta of 1.85. Genius Sports Limited has a 1 year low of $6.72 and a 1 year high of $13.73. The firm’s 50-day moving average is $12.57 and its 200-day moving average is $10.98.

Genius Sports (NYSE:GENI) last issued its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The business had revenue of $118.72 million during the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the business posted ($0.09) EPS. As a group, equities research analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current fiscal 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.