Needham Investment Management LLC Purchases 227,500 Shares of Genius Sports Limited (NYSE:GENI)

Needham Investment Management LLC grew its position in shares of Genius Sports Limited (NYSE:GENI) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,327,500 shares of the company’s stock after buying an additional 227,500 shares during the quarter. Genius Sports accounts for approximately 1.4% of Needham Investment Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Needham Investment Management LLC owned 1.01% of Genius Sports worth $18,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Genius Sports by 42.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock valued at $98,000 after purchasing an additional 5,342 shares during the period. Sound Income Strategies LLC purchased a new stake in Genius Sports during the third quarter worth about $78,000. Arkadios Wealth Advisors bought a new stake in Genius Sports in the third quarter worth about $79,000. Captrust Financial Advisors purchased a new position in Genius Sports in the third quarter valued at about $84,000. Finally, Koss Olinger Consulting LLC bought a new position in shares of Genius Sports during the 2nd quarter valued at approximately $64,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Price Performance

Shares of NYSE GENI traded down $0.09 during midday trading on Tuesday, hitting $9.66. 401,516 shares of the company traded hands, compared to its average volume of 2,397,406. The stock has a 50-day moving average price of $8.00 and a 200 day moving average price of $6.89. Genius Sports Limited has a 12-month low of $4.91 and a 12-month high of $10.15.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating 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 firm had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts expect that Genius Sports Limited will post -0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Macquarie increased their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. B. Riley boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday, November 12th. Citigroup upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, The Goldman Sachs Group raised their price target on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research report on Thursday, November 14th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $10.72.

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.