Y Intercept Hong Kong Ltd Buys New Holdings in Genius Sports Limited (NYSE:GENI)

Y Intercept Hong Kong Ltd purchased a new position in Genius Sports Limited (NYSE:GENI) during the third quarter, Holdings Channel reports. The fund purchased 38,075 shares of the company’s stock, valued at approximately $299,000.

Other hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Genius Sports by 42.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock worth $98,000 after buying an additional 5,342 shares during the last quarter. Roubaix Capital LLC boosted its holdings in Genius Sports by 16.4% in the second quarter. Roubaix Capital LLC now owns 869,110 shares of the company’s stock valued at $4,737,000 after acquiring an additional 122,544 shares in the last quarter. Koss Olinger Consulting LLC purchased a new position in Genius Sports during the 2nd quarter valued at $64,000. Rice Hall James & Associates LLC bought a new position in Genius Sports in the 2nd quarter worth $5,521,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after purchasing an additional 1,502,958 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Price Performance

GENI opened at $9.28 on Wednesday. The firm has a market cap of $2.13 billion, a PE ratio of -28.98 and a beta of 2.12. The stock has a 50-day moving average price of $8.43 and a 200-day moving average price of $7.25. Genius Sports Limited has a 1 year low of $4.91 and a 1 year high of $10.33.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday, November 12th. The Goldman Sachs Group upped their target price on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a report on Thursday, November 14th. B. Riley raised their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Macquarie upped their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Benchmark raised their price objective on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $10.72.

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.