Sycale Advisors NY LLC Makes New $12.11 Million Investment in Genius Sports Limited (NYSE:GENI)

Sycale Advisors NY LLC bought a new position in Genius Sports Limited (NYSE:GENI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,400,342 shares of the company’s stock, valued at approximately $12,113,000. Genius Sports makes up approximately 3.1% of Sycale Advisors NY LLC’s investment portfolio, making the stock its 12th largest holding. Sycale Advisors NY LLC owned about 0.65% of Genius Sports as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GENI. Divisadero Street Capital Management LP increased its holdings in shares of Genius Sports by 32,386.5% in the 4th quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company’s stock worth $30,723,000 after purchasing an additional 3,540,818 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Genius Sports in the fourth quarter worth $24,712,000. Loomis Sayles & Co. L P bought a new stake in shares of Genius Sports in the fourth quarter worth $15,553,000. Capital Research Global Investors grew its holdings in shares of Genius Sports by 14.2% in the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock worth $112,038,000 after acquiring an additional 1,610,078 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Genius Sports in the fourth quarter worth $12,332,000. Institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Lake Street Capital lifted their price objective on Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Benchmark reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Genius Sports in a report on Thursday, April 17th. Craig Hallum set a $15.00 price objective on Genius Sports in a report on Tuesday, March 4th. B. Riley reiterated a “buy” rating on shares of Genius Sports in a research report on Wednesday, May 7th. Finally, BTIG Research lifted their target price on Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.19.

Genius Sports Stock Down 1.2%

Shares of Genius Sports stock opened at $9.89 on Friday. The stock’s 50-day simple moving average is $10.07 and its 200-day simple moving average is $9.35. Genius Sports Limited has a 52 week low of $5.03 and a 52 week high of $11.40. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -30.89 and a beta of 1.96.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business had revenue of $143.99 million for the quarter, compared to the consensus estimate of $143.31 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The business’s revenue was up 20.3% on a year-over-year basis. On average, equities analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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.