Roubaix Capital LLC Invests $6 Million in Genius Sports Limited (NYSE:GENI)

Roubaix Capital LLC purchased a new position in Genius Sports Limited (NYSE:GENI) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 599,485 shares of the company’s stock, valued at approximately $6,001,000. Genius Sports accounts for 3.1% of Roubaix Capital LLC’s portfolio, making the stock its 4th biggest position.

Several other hedge funds have also recently modified their holdings of GENI. Pacer Advisors Inc. lifted its position in Genius Sports by 61.5% during the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company’s stock valued at $38,000 after acquiring an additional 1,430 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in Genius Sports during the fourth quarter valued at approximately $58,000. IPG Investment Advisors LLC purchased a new stake in Genius Sports during the first quarter valued at approximately $107,000. Park National Corp OH purchased a new stake in Genius Sports during the first quarter valued at approximately $107,000. Finally, Bayesian Capital Management LP purchased a new stake in Genius Sports during the fourth quarter valued at approximately $129,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GENI shares. Guggenheim set a $16.00 target price on shares of Genius Sports and gave the company a “buy” rating in a research report on Thursday, August 7th. Arete started coverage on shares of Genius Sports in a research report on Wednesday, July 9th. They set a “buy” rating and a $15.00 target price for the company. Citigroup reissued a “buy” rating and set a $16.00 target price (up previously from $12.00) on shares of Genius Sports in a research report on Tuesday. Needham & Company LLC upped their price target on shares of Genius Sports from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Macquarie upped their price target on shares of Genius Sports from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.94.

Genius Sports Price Performance

NYSE:GENI opened at $12.92 on Friday. The firm has a market capitalization of $2.78 billion, a P/E ratio of -41.68 and a beta of 1.86. Genius Sports Limited has a 1-year low of $6.72 and a 1-year high of $13.09. The company’s fifty day moving average price is $10.74 and its 200-day moving average price is $10.10.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). The business had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) EPS. Equities analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its board has authorized a share buyback program on Tuesday, May 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.