Senvest Management LLC Increases Position in Genius Sports Limited (NYSE:GENI)

Senvest Management LLC grew its position in Genius Sports Limited (NYSE:GENI) by 12.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,546,809 shares of the company’s stock after purchasing an additional 819,385 shares during the quarter. Genius Sports makes up 2.1% of Senvest Management LLC’s investment portfolio, making the stock its 18th largest position. Senvest Management LLC owned approximately 3.29% of Genius Sports worth $59,167,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GENI. Sound Income Strategies LLC acquired a new position in Genius Sports in the third quarter valued at approximately $78,000. Arkadios Wealth Advisors purchased a new stake in shares of Genius Sports during the 3rd quarter worth approximately $79,000. Koss Olinger Consulting LLC acquired a new position in shares of Genius Sports in the 2nd quarter valued at $64,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Genius Sports in the 2nd quarter valued at $67,000. Finally, Fullcircle Wealth LLC acquired a new stake in Genius Sports during the 3rd quarter worth $118,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Trading Up 1.7 %

NYSE:GENI opened at $9.07 on Friday. The company’s 50-day moving average is $7.80 and its two-hundred day moving average is $6.73. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -28.34 and a beta of 1.98. Genius Sports Limited has a 12-month low of $4.91 and a 12-month high of $10.15.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.94 million. During the same period in the previous year, the firm posted ($0.06) EPS. Genius Sports’s revenue was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Genius Sports Limited will post -0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GENI. Oppenheimer upped their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price objective on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a research note on Tuesday, November 12th. Benchmark lifted their price target on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Macquarie upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $10.39.

About Genius Sports

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.