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

Portolan Capital Management LLC decreased its stake in shares of Genius Sports Limited (NYSE:GENI) by 11.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,612,811 shares of the company’s stock after selling 473,553 shares during the period. Genius Sports accounts for about 2.4% of Portolan Capital Management LLC’s holdings, making the stock its 11th largest position. Portolan Capital Management LLC owned about 1.68% of Genius Sports worth $44,727,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in Genius Sports during the third quarter worth approximately $65,000. Strs Ohio raised its position in shares of Genius Sports by 178.9% in the third quarter. Strs Ohio now owns 5,300 shares of the company’s stock valued at $66,000 after purchasing an additional 3,400 shares during the period. Bessemer Group Inc. raised its position in shares of Genius Sports by 1,163.1% in the third quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock valued at $87,000 after purchasing an additional 6,455 shares during the period. CWM LLC lifted its stake in shares of Genius Sports by 106.3% in the third quarter. CWM LLC now owns 8,209 shares of the company’s stock worth $102,000 after buying an additional 4,229 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Genius Sports by 72.6% in the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock worth $111,000 after buying an additional 4,477 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

Genius Sports Price Performance

NYSE:GENI opened at $5.34 on Friday. Genius Sports Limited has a one year low of $4.96 and a one year high of $13.73. The company has a fifty day moving average price of $7.68 and a 200 day moving average price of $10.12. The stock has a market cap of $1.15 billion, a P/E ratio of -12.41 and a beta of 1.91.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on GENI shares. Stifel Nicolaus lowered their target price on shares of Genius Sports from $10.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, February 19th. BTIG Research cut their target price on shares of Genius Sports from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. B. Riley Financial restated a “buy” rating on shares of Genius Sports in a report on Friday, February 6th. Citigroup dropped their price objective on Genius Sports from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group boosted their price objective on Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Genius Sports presently has an average rating of “Moderate Buy” and an average price target of $12.84.

About Genius Sports

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.