Silvercrest Asset Management Group LLC Has $8.71 Million Stake in Genius Sports Limited (NYSE:GENI)

Silvercrest Asset Management Group LLC trimmed its position in shares of Genius Sports Limited (NYSE:GENI) by 27.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,007,430 shares of the company’s stock after selling 387,928 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Genius Sports were worth $8,714,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Genius Sports in the fourth quarter worth $12,332,000. JPMorgan Chase & Co. lifted its stake in Genius Sports by 138.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company’s stock worth $14,264,000 after acquiring an additional 957,559 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in Genius Sports during the 4th quarter worth about $136,000. D.A. Davidson & CO. grew its stake in Genius Sports by 2.7% during the 4th quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock valued at $464,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Genius Sports during the 4th quarter valued at about $11,292,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Trading Down 1.2%

Shares of NYSE:GENI opened at $9.89 on Monday. The stock has a market capitalization of $2.13 billion, a PE ratio of -30.89 and a beta of 1.96. Genius Sports Limited has a 1 year low of $5.03 and a 1 year high of $11.40. The firm has a fifty day moving average price of $10.07 and a 200 day moving average price of $9.37.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $143.99 million during the quarter, compared to analysts’ expectations of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. On average, sell-side analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on GENI shares. BTIG Research increased their price target on shares of Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group increased their target price on shares of Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Genius Sports in a report on Tuesday, May 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price target on shares of Genius Sports in a research note on Monday, January 27th. Finally, B. Riley reissued a “buy” rating on shares of Genius Sports in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.19.

Genius Sports Company 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.