Portolan Capital Management LLC Sells 473,553 Shares of Genius Sports Limited $GENI

Portolan Capital Management LLC lessened its position in shares of Genius Sports Limited (NYSE:GENI) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,612,811 shares of the company’s stock after selling 473,553 shares during the quarter. Genius Sports makes up about 2.4% of Portolan Capital Management LLC’s investment portfolio, making the stock its 11th largest position. Portolan Capital Management LLC’s holdings in Genius Sports were worth $44,727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. New York State Common Retirement Fund boosted its stake in Genius Sports by 395.5% during the third quarter. New York State Common Retirement Fund now owns 979,000 shares of the company’s stock worth $12,120,000 after buying an additional 781,411 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Genius Sports by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,006,277 shares of the company’s stock valued at $36,316,000 after buying an additional 117,591 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of Genius Sports by 341.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 3,330,469 shares of the company’s stock valued at $41,231,000 after buying an additional 2,576,329 shares in the last quarter. Peregrine Capital Management LLC bought a new position in shares of Genius Sports during the 3rd quarter worth about $10,153,000. Finally, Nomura Holdings Inc. bought a new position in shares of Genius Sports during the 2nd quarter worth about $5,200,000. 81.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on GENI shares. Oppenheimer lowered their target price on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Needham & Company LLC cut their price target on shares of Genius Sports from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Citizens Jmp lifted their price objective on Genius Sports from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, December 4th. Guggenheim lowered their price objective on Genius Sports from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Citigroup dropped their target price on Genius Sports from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.84.

Genius Sports Stock Up 3.2%

Shares of Genius Sports stock opened at $5.34 on Friday. Genius Sports Limited has a 12-month low of $4.96 and a 12-month high of $13.73. The stock has a market capitalization of $1.15 billion, a P/E ratio of -12.41 and a beta of 1.91. The company has a 50-day simple moving average of $7.68 and a 200 day simple moving average of $10.12.

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