Genius Sports Limited $GENI is Granahan Investment Management LLC’s 2nd Largest Position

Granahan Investment Management LLC reduced its holdings in shares of Genius Sports Limited (NYSE:GENI) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,977,172 shares of the company’s stock after selling 359,124 shares during the period. Genius Sports comprises approximately 4.0% of Granahan Investment Management LLC’s portfolio, making the stock its 2nd biggest holding. Granahan Investment Management LLC’s holdings in Genius Sports were worth $98,757,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Divisadero Street Capital Management LP boosted its stake in shares of Genius Sports by 226.9% in the 3rd quarter. Divisadero Street Capital Management LP now owns 545,892 shares of the company’s stock valued at $6,758,000 after purchasing an additional 378,907 shares in the last quarter. Bank of America Corp DE raised its position in Genius Sports by 2.4% in the 3rd quarter. Bank of America Corp DE now owns 1,917,828 shares of the company’s stock worth $23,743,000 after purchasing an additional 44,050 shares during the period. Boothbay Fund Management LLC raised its position in Genius Sports by 78.2% in the 3rd quarter. Boothbay Fund Management LLC now owns 246,528 shares of the company’s stock worth $3,052,000 after purchasing an additional 108,193 shares during the period. Alliancebernstein L.P. lifted its stake in Genius Sports by 307.7% in the third quarter. Alliancebernstein L.P. now owns 919,460 shares of the company’s stock worth $11,383,000 after purchasing an additional 693,960 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in Genius Sports in the third quarter worth $1,129,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GENI has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on Genius Sports from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Stifel Nicolaus lowered their target price on Genius Sports from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, February 19th. Needham & Company LLC dropped their target price on Genius Sports from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Oppenheimer reduced their price target on Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Finally, BTIG Research decreased their price target on Genius Sports from $16.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.84.

Genius Sports Trading Up 3.2%

GENI stock opened at $5.34 on Monday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -12.41 and a beta of 1.91. The firm’s 50-day moving average price is $7.68 and its two-hundred day moving average price is $10.08. Genius Sports Limited has a 12-month low of $4.96 and a 12-month high of $13.73.

Genius Sports (NYSE:GENI) last posted its earnings results on Wednesday, March 4th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The firm had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $234.94 million. Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The business’s revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.12) earnings per share. Equities analysts predict that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.