State of Wyoming Boosts Holdings in Genius Sports Limited (NYSE:GENI)

State of Wyoming lifted its stake in Genius Sports Limited (NYSE:GENI) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,630 shares of the company’s stock after purchasing an additional 3,495 shares during the quarter. State of Wyoming’s holdings in Genius Sports were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Genius Sports in the 4th quarter worth about $58,000. Steward Partners Investment Advisory LLC raised its position in Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $105,000 after buying an additional 3,429 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Genius Sports in the 4th quarter worth about $129,000. Perigon Wealth Management LLC purchased a new position in Genius Sports in the 4th quarter worth about $136,000. Finally, Envestnet Asset Management Inc. raised its position in Genius Sports by 27.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company’s stock worth $143,000 after buying an additional 3,548 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their target price on Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. JMP Securities reissued a “market outperform” rating and issued a $11.00 target price on shares of Genius Sports in a research report on Monday, January 27th. Lake Street Capital boosted their target price on Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. BTIG Research boosted their target price on Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Finally, Benchmark reissued a “buy” rating and issued a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.19.

Genius Sports Trading Down 0.8%

Shares of NYSE:GENI opened at $9.95 on Wednesday. The stock has a 50 day moving average of $10.10 and a 200 day moving average of $9.40. The company has a market cap of $2.14 billion, a PE ratio of -31.09 and a beta of 1.96. Genius Sports Limited has a 12-month low of $5.03 and a 12-month high of $11.40.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data 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. The company had revenue of $143.99 million during the quarter, compared to the consensus estimate of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm’s revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) EPS. Equities research analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.