Granahan Investment Management LLC Has $98.76 Million Holdings in Genius Sports Limited $GENI

Granahan Investment Management LLC lessened its stake in shares of Genius Sports Limited (NYSE:GENI) by 4.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,977,172 shares of the company’s stock after selling 359,124 shares during the quarter. Genius Sports comprises 4.0% of Granahan Investment Management LLC’s portfolio, making the stock its 2nd largest holding. Granahan Investment Management LLC owned approximately 3.71% of Genius Sports worth $98,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GENI. Invesco Ltd. boosted its position in shares of Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after acquiring an additional 3,202,290 shares during the period. Westfield Capital Management Co. LP increased its holdings in Genius Sports by 82.7% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,850,083 shares of the company’s stock worth $72,424,000 after acquiring an additional 2,647,948 shares during the period. Geode Capital Management LLC purchased a new stake in Genius Sports in the 2nd quarter worth approximately $27,312,000. Stephens Investment Management Group LLC boosted its holdings in 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 purchasing an additional 2,576,329 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Genius Sports by 17.9% in the 3rd quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock valued at $167,298,000 after purchasing an additional 2,051,503 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GENI. Citizens Jmp upped their price target on shares of Genius Sports from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Genius Sports in a research note on Monday, December 29th. Wells Fargo & Company reduced their target price on Genius Sports from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Truist Financial decreased their target price on Genius Sports from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Stifel Nicolaus lowered their price target on Genius Sports from $10.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.84.

Genius Sports Stock Performance

NYSE GENI opened at $5.34 on Monday. Genius Sports Limited has a 52-week low of $4.96 and a 52-week high of $13.73. The company has a fifty day moving average of $7.68 and a 200-day moving average of $10.08. The company has a market capitalization of $1.15 billion, a P/E ratio of -12.41 and a beta of 1.91.

Genius Sports (NYSE:GENI) last released its 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). Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The firm had revenue of $240.50 million during the quarter, compared to the consensus estimate of $234.94 million. During the same period in the prior year, the company earned ($0.12) EPS. The firm’s revenue was up 37.0% compared to the same quarter last year. As a group, analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal 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.