ArrowMark Colorado Holdings LLC Increases Holdings in Genius Sports Limited (NYSE:GENI)

ArrowMark Colorado Holdings LLC boosted its stake in shares of Genius Sports Limited (NYSE:GENI) by 29.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,313,621 shares of the company’s stock after buying an additional 295,683 shares during the period. ArrowMark Colorado Holdings LLC owned 0.57% of Genius Sports worth $10,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GENI. FMR LLC boosted its position in shares of Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after acquiring an additional 2,507,165 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in Genius Sports in the 2nd quarter valued at about $11,233,000. Massachusetts Financial Services Co. MA grew its stake in shares of Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after buying an additional 1,502,958 shares during the period. Bank of Montreal Can purchased a new stake in shares of Genius Sports in the 2nd quarter valued at approximately $6,575,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Genius Sports during the 2nd quarter worth approximately $5,521,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Stock Performance

Shares of GENI opened at $9.77 on Tuesday. The stock has a market capitalization of $2.24 billion, a PE ratio of -30.69 and a beta of 1.98. The company’s 50-day simple moving average is $8.00 and its 200-day simple moving average is $6.89. Genius Sports Limited has a 1 year low of $4.91 and a 1 year high of $10.15.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The company had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts predict that Genius Sports Limited will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GENI has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Macquarie upped their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research report on Tuesday, November 12th. B. Riley boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Oppenheimer increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $10.72.

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.