ABS Direct Equity Fund LLC Takes Position in Genius Sports Limited $GENI

ABS Direct Equity Fund LLC bought a new position in shares of Genius Sports Limited (NYSE:GENI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 400,000 shares of the company’s stock, valued at approximately $1,772,000. Genius Sports comprises about 1.4% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 26th largest holding. ABS Direct Equity Fund LLC owned approximately 0.16% of Genius Sports at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Parallel Advisors LLC acquired a new position in shares of Genius Sports in the 1st quarter valued at $25,000. UMB Bank n.a. acquired a new stake in shares of Genius Sports during the fourth quarter worth about $63,000. Victory Financial Group LLC purchased a new stake in Genius Sports in the fourth quarter valued at approximately $113,000. Osaic Holdings Inc. increased its holdings in Genius Sports by 72.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock worth $111,000 after buying an additional 4,477 shares during the period. Finally, Orion Porfolio Solutions LLC purchased a new position in Genius Sports during the 2nd quarter worth approximately $112,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Stock Performance

Shares of Genius Sports stock opened at $6.53 on Monday. The firm has a 50-day simple moving average of $6.14 and a two-hundred day simple moving average of $6.14. Genius Sports Limited has a fifty-two week low of $3.83 and a fifty-two week high of $13.73. The company has a market cap of $1.61 billion, a P/E ratio of -10.70 and a beta of 1.91.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. Genius Sports’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) EPS. Equities research analysts forecast that Genius Sports Limited will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on GENI shares. Roth Capital set a $10.00 price objective on shares of Genius Sports in a report on Friday, May 8th. Truist Financial reduced their target price on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Genius Sports from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Citigroup cut their price target on Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Stifel Nicolaus lifted their price objective on Genius Sports from $5.00 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.19.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.