Robertson Stephens Wealth Management LLC Boosts Holdings in Genius Sports Limited $GENI

Robertson Stephens Wealth Management LLC grew its holdings in shares of Genius Sports Limited (NYSE:GENI) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 213,007 shares of the company’s stock after acquiring an additional 11,593 shares during the quarter. Robertson Stephens Wealth Management LLC owned 0.10% of Genius Sports worth $2,215,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in shares of 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 shares of 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 bought a new position in shares of Genius Sports in the first quarter worth approximately $28,280,000. Voya Investment Management LLC grew its holdings in shares of Genius Sports by 20.1% in the first quarter. Voya Investment Management LLC now owns 2,781,888 shares of the company’s stock worth $27,847,000 after purchasing an additional 465,862 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Genius Sports by 1,579.0% in the first quarter. Millennium Management LLC now owns 2,766,206 shares of the company’s stock worth $27,690,000 after purchasing an additional 2,601,453 shares during the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Stock Down 4.1%

NYSE:GENI opened at $11.52 on Friday. The stock has a market cap of $2.48 billion, a P/E ratio of -37.16 and a beta of 1.85. The firm’s fifty day simple moving average is $12.57 and its 200 day simple moving average is $10.98. Genius Sports Limited has a twelve month low of $6.72 and a twelve month high of $13.73.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The company 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 business’s revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. On average, analysts expect that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GENI. Truist Financial began coverage on shares of Genius Sports in a report on Tuesday, July 1st. They issued a “buy” rating and a $14.00 target price on the stock. Northland Securities began coverage on shares of Genius Sports in a report on Friday, July 25th. They issued an “outperform” rating and a $14.00 target price on the stock. Needham & Company LLC raised their target price on shares of Genius Sports from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. B. Riley raised their target price on shares of Genius Sports from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, UBS Group raised their target price on shares of Genius Sports from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Genius Sports presently has an average rating of “Moderate Buy” and an average price target of $14.22.

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.