ARK Investment Management LLC Has $42.73 Million Stake in Genius Sports Limited (NYSE:GENI)

ARK Investment Management LLC raised its position in Genius Sports Limited (NYSE:GENI) by 9.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,914,013 shares of the company’s stock after purchasing an additional 620,472 shares during the period. ARK Investment Management LLC owned 3.14% of Genius Sports worth $42,729,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its position in shares of Genius Sports by 9.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 403,781 shares of the company’s stock worth $2,495,000 after purchasing an additional 33,546 shares during the period. Wellington Management Group LLP lifted its position in shares of Genius Sports by 2,189.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,504,922 shares of the company’s stock valued at $8,021,000 after acquiring an additional 1,439,184 shares during the period. Graham Capital Management L.P. lifted its position in shares of Genius Sports by 116.3% during the 3rd quarter. Graham Capital Management L.P. now owns 41,837 shares of the company’s stock valued at $223,000 after acquiring an additional 22,494 shares during the period. Walleye Capital LLC lifted its position in shares of Genius Sports by 83.1% during the 3rd quarter. Walleye Capital LLC now owns 81,869 shares of the company’s stock valued at $436,000 after acquiring an additional 37,165 shares during the period. Finally, GSA Capital Partners LLP lifted its position in shares of Genius Sports by 687.1% during the 3rd quarter. GSA Capital Partners LLP now owns 99,519 shares of the company’s stock valued at $530,000 after acquiring an additional 86,876 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GENI. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research note on Wednesday, March 6th. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price target on shares of Genius Sports in a research note on Monday, February 26th. Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Genius Sports in a research note on Thursday, March 7th. Macquarie assumed coverage on shares of Genius Sports in a research note on Thursday, December 21st. They issued an “outperform” rating and a $11.00 target price for the company. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Genius Sports in a research note on Thursday, March 7th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $9.50.

Genius Sports Stock Down 1.6 %

NYSE GENI opened at $5.64 on Thursday. The company has a market cap of $1.31 billion, a PE ratio of -14.10 and a beta of 2.01. Genius Sports Limited has a 52 week low of $3.55 and a 52 week high of $8.45. The firm’s 50-day simple moving average is $6.62 and its two-hundred day simple moving average is $5.87.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The firm had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $126.53 million. During the same period in the previous year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Genius Sports Limited will post -0.19 EPS for the current 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.