ARK Investment Management LLC Acquires 620,472 Shares of Genius Sports Limited (NYSE:GENI)

ARK Investment Management LLC increased its holdings in Genius Sports Limited (NYSE:GENI) by 9.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,914,013 shares of the company’s stock after purchasing an additional 620,472 shares during the period. ARK Investment Management LLC’s holdings in Genius Sports were worth $42,729,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Qube Research & Technologies Ltd bought a new stake in shares of Genius Sports during the 3rd quarter valued at about $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Genius Sports during the 3rd quarter valued at about $29,000. Altshuler Shaham Ltd bought a new stake in shares of Genius Sports during the 4th quarter valued at about $35,000. ExodusPoint Capital Management LP bought a new stake in shares of Genius Sports during the 1st quarter valued at about $52,000. Finally, United Capital Financial Advisers LLC bought a new stake in shares of Genius Sports during the 4th quarter valued at about $37,000. 81.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Genius Sports Trading Down 1.6 %

NYSE GENI opened at $5.64 on Thursday. The stock’s 50 day moving average is $6.62 and its 200 day moving average is $5.87. Genius Sports Limited has a 12 month low of $3.55 and a 12 month high of $8.45. The stock has a market cap of $1.31 billion, a PE ratio of -14.10 and a beta of 2.01.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.10). The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $126.53 million. Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the company earned ($0.18) earnings per share. On average, analysts forecast that Genius Sports Limited will post -0.19 EPS for the current fiscal year.

Genius Sports 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.