Genius Sports Limited (NYSE:GENI) Short Interest Update

Genius Sports Limited (NYSE:GENI) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 24,430,000 shares, an increase of 26.3% from the October 15th total of 19,340,000 shares. Based on an average daily volume of 2,420,000 shares, the short-interest ratio is presently 10.1 days. Approximately 13.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Genius Sports

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in Genius Sports by 2.9% during the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock valued at $65,013,000 after purchasing an additional 230,209 shares during the period. Senvest Management LLC lifted its stake in Genius Sports by 12.2% in the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after buying an additional 819,385 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Genius Sports by 10.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock valued at $58,959,000 after acquiring an additional 691,539 shares during the period. FMR LLC grew its position in shares of Genius Sports by 53.2% during the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after acquiring an additional 2,507,165 shares during the last quarter. Finally, Portolan Capital Management LLC increased its holdings in shares of Genius Sports by 9.4% in the 3rd quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock worth $24,860,000 after acquiring an additional 272,545 shares during the period. 81.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GENI has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Genius Sports in a report on Tuesday, November 12th. The Goldman Sachs Group lifted their target price on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research report on Thursday. Benchmark increased their price target on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. Macquarie raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Oppenheimer upped their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $10.39.

Genius Sports Stock Performance

Shares of GENI opened at $9.11 on Friday. The business’s fifty day moving average price is $7.66 and its 200 day moving average price is $6.60. Genius Sports has a 12-month low of $4.91 and a 12-month high of $10.15.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. As a group, research analysts anticipate that Genius Sports will post -0.16 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.