Geode Capital Management LLC Invests $27.31 Million in Genius Sports Limited $GENI

Geode Capital Management LLC purchased a new stake in Genius Sports Limited (NYSE:GENI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,626,123 shares of the company’s stock, valued at approximately $27,312,000. Geode Capital Management LLC owned 1.22% of Genius Sports at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GENI. Wellington Management Group LLP increased its holdings in shares of Genius Sports by 25.4% in the first quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company’s stock valued at $102,547,000 after purchasing an additional 2,076,590 shares during the last quarter. Voss Capital LP boosted its holdings in shares of Genius Sports by 17.0% during the 1st quarter. Voss Capital LP now owns 9,269,519 shares of the company’s stock worth $92,788,000 after buying an additional 1,346,087 shares during the period. Global Alpha Capital Management Ltd. acquired a new position in Genius Sports in the 2nd quarter valued at about $43,552,000. Bank of New York Mellon Corp grew its stake in Genius Sports by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,929,219 shares of the company’s stock valued at $30,464,000 after buying an additional 397,527 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Genius Sports by 33.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,888,686 shares of the company’s stock valued at $29,176,000 after acquiring an additional 726,843 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company began coverage on Genius Sports in a report on Tuesday, November 18th. They set an “equal weight” rating and a $10.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Genius Sports in a research note on Tuesday, November 4th. JMP Securities increased their price objective on Genius Sports from $13.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group lifted their target price on Genius Sports from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, B. Riley boosted their target price on shares of Genius Sports from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.11.

Genius Sports Stock Performance

NYSE:GENI opened at $10.07 on Friday. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -21.43 and a beta of 1.84. Genius Sports Limited has a fifty-two week low of $8.15 and a fifty-two week high of $13.73. The stock has a fifty day moving average price of $11.20 and a 200-day moving average price of $11.13.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). Genius Sports had a negative net margin of 19.71% and a negative return on equity of 14.39%. The company had revenue of $166.28 million during the quarter, compared to analyst estimates of $156.24 million. Genius Sports has set its FY 2025 guidance at EPS. Research analysts predict that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

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.