Castleark Management LLC Acquires Shares of 457,990 Genius Sports Limited (NYSE:GENI)

Castleark Management LLC bought a new position in shares of Genius Sports Limited (NYSE:GENI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 457,990 shares of the company’s stock, valued at approximately $3,962,000. Castleark Management LLC owned about 0.21% of Genius Sports as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GENI. Capital Research Global Investors lifted its stake in Genius Sports by 14.2% during the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock worth $112,038,000 after purchasing an additional 1,610,078 shares during the last quarter. Granahan Investment Management LLC raised its holdings in shares of Genius Sports by 0.8% during the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company’s stock worth $68,886,000 after purchasing an additional 64,752 shares during the period. Voss Capital LP lifted its position in shares of Genius Sports by 16.7% in the 4th quarter. Voss Capital LP now owns 7,923,432 shares of the company’s stock worth $68,538,000 after buying an additional 1,134,029 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of Genius Sports by 6.2% in the 4th quarter. Hood River Capital Management LLC now owns 5,026,233 shares of the company’s stock worth $43,477,000 after buying an additional 295,485 shares during the last quarter. Finally, Divisadero Street Capital Management LP boosted its holdings in shares of 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 period. Institutional investors and hedge funds own 81.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GENI shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research note on Monday, April 21st. They set a “buy” rating and a $12.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Genius Sports in a research report on Tuesday, May 6th. JMP Securities restated a “market outperform” rating and set a $11.00 price objective on shares of Genius Sports in a research report on Monday, January 27th. Guggenheim initiated coverage on Genius Sports in a research note on Tuesday, March 18th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Lake Street Capital raised their target price on Genius Sports from $10.50 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.19.

Genius Sports Stock Performance

NYSE:GENI opened at $9.86 on Thursday. Genius Sports Limited has a 1 year low of $5.03 and a 1 year high of $11.40. The business has a fifty day moving average of $10.11 and a 200-day moving average of $9.40. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -30.82 and a beta of 1.96.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The firm had revenue of $143.99 million during the quarter, compared to analyst estimates of $143.31 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. Genius Sports’s revenue was up 20.3% compared to the same quarter last year. On average, equities research analysts predict that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports declared that its board has approved a share buyback plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.