Massachusetts Financial Services Co. MA Acquires 691,539 Shares of Genius Sports Limited (NYSE:GENI)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Genius Sports Limited (NYSE:GENI) by 10.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,520,342 shares of the company’s stock after purchasing an additional 691,539 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Genius Sports were worth $58,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. bought a new position in shares of Genius Sports during the third quarter valued at $265,000. GSA Capital Partners LLP acquired a new stake in shares of Genius Sports during the 3rd quarter worth about $532,000. Olympiad Research LP bought a new position in Genius Sports during the 3rd quarter valued at about $209,000. Harbor Capital Advisors Inc. bought a new position in Genius Sports during the 3rd quarter valued at about $2,465,000. Finally, Fullcircle Wealth LLC acquired a new position in Genius Sports in the third quarter valued at about $118,000. Institutional investors own 81.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GENI. Oppenheimer raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Genius Sports in a report on Tuesday, November 12th. Benchmark lifted their price objective on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. B. Riley increased their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $10.39.

Genius Sports Stock Up 1.7 %

GENI stock opened at $9.07 on Monday. The business has a fifty day moving average of $7.80 and a 200-day moving average of $6.74. The company has a market cap of $2.08 billion, a P/E ratio of -28.34 and a beta of 1.98. Genius Sports Limited has a twelve month low of $4.91 and a twelve month high of $10.15.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. As a group, equities research analysts anticipate that Genius Sports Limited will post -0.16 earnings per share for the current fiscal year.

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.