NewEdge Wealth LLC Buys New Shares in Genius Sports Limited (NYSE:GENI)

NewEdge Wealth LLC bought a new stake in Genius Sports Limited (NYSE:GENI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $62,000.

Several other hedge funds have also recently made changes to their positions in GENI. Qube Research & Technologies Ltd acquired a new position in shares of Genius Sports in the 3rd quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Genius Sports in the 3rd quarter valued at $29,000. Altshuler Shaham Ltd acquired a new position in shares of Genius Sports in the 4th quarter valued at $35,000. United Capital Financial Advisers LLC acquired a new stake in Genius Sports during the 4th quarter worth about $37,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Genius Sports during the 2nd quarter worth about $39,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GENI shares. The Goldman Sachs Group started coverage on Genius Sports in a research report on Tuesday. They set a “buy” rating and a $7.50 price target on the stock. B. Riley started coverage on Genius Sports in a research report on Friday, April 5th. They set a “buy” rating and a $9.00 price target on the stock. Macquarie started coverage on Genius Sports in a research report on Thursday, December 21st. They set an “outperform” rating and a $11.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price target on shares of Genius Sports in a research report on Monday, February 26th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $10.00 price target on shares of Genius Sports in a research report on Thursday, April 4th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $9.25.

Genius Sports Stock Down 2.9 %

GENI stock opened at $5.12 on Friday. The company’s 50-day simple moving average is $6.24 and its 200-day simple moving average is $5.87. Genius Sports Limited has a 52-week low of $3.55 and a 52-week high of $8.45. The firm has a market cap of $1.19 billion, a P/E ratio of -12.79 and a beta of 1.96.

Genius Sports (NYSE:GENI) last posted its earnings results on Wednesday, March 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.10). The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $126.53 million. Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.18) earnings per share. On average, analysts anticipate that Genius Sports Limited will post -0.13 earnings per share for the current fiscal year.

Genius Sports 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.