Channel Wealth LLC Acquires 321,214 Shares of Genius Sports Limited $GENI

Channel Wealth LLC boosted its holdings in shares of Genius Sports Limited (NYSE:GENI) by 912.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 356,418 shares of the company’s stock after buying an additional 321,214 shares during the period. Genius Sports makes up about 1.2% of Channel Wealth LLC’s portfolio, making the stock its 27th largest position. Channel Wealth LLC owned approximately 0.17% of Genius Sports worth $4,412,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Genius Sports in the 1st quarter worth about $37,000. CWM LLC raised its stake in shares of Genius Sports by 275.5% in the second quarter. CWM LLC now owns 3,980 shares of the company’s stock worth $41,000 after purchasing an additional 2,920 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Genius Sports in the second quarter valued at approximately $75,000. Amalgamated Bank purchased a new position in shares of Genius Sports during the second quarter valued at approximately $79,000. Finally, Jag Capital Management LLC purchased a new position in shares of Genius Sports during the second quarter valued at approximately $110,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Trading Down 0.0%

NYSE:GENI opened at $10.66 on Thursday. Genius Sports Limited has a 12 month low of $8.15 and a 12 month high of $13.73. The firm’s 50 day moving average is $10.77 and its 200 day moving average is $11.21. The stock has a market capitalization of $2.29 billion, a PE ratio of -22.68 and a beta of 1.94.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GENI shares. Citizens Jmp raised their price objective on Genius Sports from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday, December 4th. Wells Fargo & Company upped their price objective on shares of Genius Sports from $10.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Zacks Research raised shares of Genius Sports from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Genius Sports in a research note on Thursday, December 4th. Finally, BTIG Research increased their price target on Genius Sports from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.05.

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.