Westerly Capital Management LLC Acquires Shares of 250,000 Genius Sports Limited (NYSE:GENI)

Westerly Capital Management LLC purchased a new position in Genius Sports Limited (NYSE:GENI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 250,000 shares of the company’s stock, valued at approximately $2,162,000. Westerly Capital Management LLC owned 0.12% of Genius Sports at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its stake in Genius Sports by 2.7% in the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock worth $464,000 after purchasing an additional 1,396 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Genius Sports by 39.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $105,000 after buying an additional 3,429 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Genius Sports by 27.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company’s stock valued at $143,000 after buying an additional 3,548 shares during the period. Arete Wealth Advisors LLC raised its holdings in shares of Genius Sports by 29.5% in the fourth quarter. Arete Wealth Advisors LLC now owns 18,900 shares of the company’s stock valued at $163,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Genius Sports by 22.2% in the fourth quarter. Victory Capital Management Inc. now owns 23,769 shares of the company’s stock worth $206,000 after acquiring an additional 4,321 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Price Performance

NYSE GENI opened at $10.92 on Wednesday. The stock’s 50 day simple moving average is $9.71 and its 200-day simple moving average is $9.08. The company has a market cap of $2.35 billion, a PE ratio of -34.13 and a beta of 1.98. Genius Sports Limited has a 1-year low of $4.91 and a 1-year high of $11.16.

Genius Sports (NYSE:GENI) last issued its earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The business had revenue of $175.53 million during the quarter, compared to analyst estimates of $175.52 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same quarter last year, the company earned ($0.10) earnings per share. On average, equities research analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Lake Street Capital upped their price target on shares of Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Guggenheim began coverage on Genius Sports in a research report on Tuesday, March 18th. They set a “buy” rating and a $12.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Genius Sports in a report on Monday, April 21st. They issued a “buy” rating and a $12.00 price target on the stock. BTIG Research upped their price objective on Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Genius Sports in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Genius Sports presently has an average rating of “Moderate Buy” and an average price target of $12.19.

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.