AMI Asset Management Corp Buys 47,667 Shares of Genius Sports Limited (NYSE:GENI)

AMI Asset Management Corp boosted its stake in Genius Sports Limited (NYSE:GENI) by 73.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,360 shares of the company’s stock after acquiring an additional 47,667 shares during the period. AMI Asset Management Corp owned 0.05% of Genius Sports worth $1,125,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Capital Research Global Investors lifted its stake in Genius Sports by 14.2% in the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock valued at $112,038,000 after buying an additional 1,610,078 shares during the period. Granahan Investment Management LLC lifted its stake in 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 buying an additional 64,752 shares during the period. Voss Capital LP lifted its stake in Genius Sports by 16.7% in the fourth quarter. Voss Capital LP now owns 7,923,432 shares of the company’s stock valued at $68,538,000 after buying an additional 1,134,029 shares during the period. Hood River Capital Management LLC lifted its stake in Genius Sports by 6.2% in the fourth quarter. Hood River Capital Management LLC now owns 5,026,233 shares of the company’s stock valued at $43,477,000 after buying an additional 295,485 shares during the period. Finally, Divisadero Street Capital Management LP raised its position in Genius Sports by 32,386.5% in the 4th quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company’s stock valued at $30,723,000 after buying an additional 3,540,818 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Trading Down 1.0%

Shares of NYSE GENI opened at $9.98 on Thursday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -52.53 and a beta of 1.87. Genius Sports Limited has a 1-year low of $5.12 and a 1-year high of $11.40. The stock’s 50-day moving average is $10.07 and its 200 day moving average is $9.53.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. The business had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. During the same period last year, the company earned ($0.11) EPS. Genius Sports’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports declared that its board has initiated a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

GENI has been the subject of a number of analyst reports. Craig Hallum set a $15.00 price target on Genius Sports in a research report on Tuesday, March 4th. Benchmark restated a “buy” rating and issued a $12.00 price objective on shares of Genius Sports in a research note on Thursday, April 17th. The Goldman Sachs Group increased their price target on Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. B. Riley reiterated a “buy” rating on shares of Genius Sports in a research note on Wednesday, May 7th. Finally, Guggenheim initiated coverage on Genius Sports in a research note on Tuesday, March 18th. They set a “buy” rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Genius Sports presently has an average rating of “Moderate Buy” and a consensus price target of $12.19.

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.