Genius Sports Limited (NYSE:GENI) Shares Purchased by Portolan Capital Management LLC

Portolan Capital Management LLC lifted its position in Genius Sports Limited (NYSE:GENI) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,170,891 shares of the company’s stock after purchasing an additional 272,545 shares during the quarter. Genius Sports makes up 1.8% of Portolan Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Portolan Capital Management LLC owned about 1.38% of Genius Sports worth $24,860,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Senvest Management LLC boosted its position in shares of Genius Sports by 12.2% in the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after purchasing an additional 819,385 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Genius Sports by 10.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock worth $58,959,000 after acquiring an additional 691,539 shares during the period. FMR LLC lifted its position in Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after acquiring an additional 2,507,165 shares during the period. Needham Investment Management LLC lifted its position in Genius Sports by 10.8% during the 3rd quarter. Needham Investment Management LLC now owns 2,327,500 shares of the company’s stock worth $18,248,000 after acquiring an additional 227,500 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new stake in Genius Sports during the 2nd quarter worth approximately $11,233,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Price Performance

Genius Sports stock opened at $10.00 on Wednesday. Genius Sports Limited has a 12-month low of $4.91 and a 12-month high of $10.15. The stock has a market capitalization of $2.29 billion, a P/E ratio of -31.25 and a beta of 2.12. The firm’s 50-day moving average is $8.03 and its two-hundred day moving average is $6.92.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. During the same period last year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, analysts forecast that Genius Sports Limited will post -0.16 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research note on Tuesday, November 12th. Macquarie increased their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Benchmark increased their target price on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer increased their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.