Discovery Capital Management LLC CT Trims Stake in Genius Sports Limited (NYSE:GENI)

Discovery Capital Management LLC CT decreased its position in Genius Sports Limited (NYSE:GENI) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,245,605 shares of the company’s stock after selling 115,900 shares during the quarter. Genius Sports accounts for 3.2% of Discovery Capital Management LLC CT’s portfolio, making the stock its 10th largest position. Discovery Capital Management LLC CT owned about 2.44% of Genius Sports worth $45,374,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors bought a new stake in shares of Genius Sports in the 3rd quarter valued at about $84,000. Walleye Trading LLC lifted its position in Genius Sports by 169.9% in the third quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock valued at $95,000 after purchasing an additional 29,555 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock valued at $105,000 after purchasing an additional 3,429 shares during the period. Perigon Wealth Management LLC bought a new position in shares of Genius Sports in the fourth quarter worth approximately $136,000. Finally, Aigen Investment Management LP bought a new position in shares of Genius Sports in the fourth quarter worth approximately $163,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Trading Down 1.5 %

Shares of Genius Sports stock opened at $9.99 on Tuesday. Genius Sports Limited has a 12 month low of $4.91 and a 12 month high of $11.16. The firm has a market capitalization of $2.15 billion, a P/E ratio of -31.23 and a beta of 2.14. The business has a fifty day simple moving average of $9.39 and a two-hundred day simple moving average of $8.74.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The business had revenue of $175.53 million for the quarter, compared to analysts’ expectations 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 period last year, the business earned ($0.10) earnings per share. Analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GENI. B. Riley initiated coverage on shares of Genius Sports in a report on Tuesday, March 18th. They issued a “buy” rating on the stock. Citizens Jmp cut Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Guggenheim initiated coverage on Genius Sports in a research report on Tuesday, March 18th. They set a “buy” rating and a $12.00 price target for the company. The Goldman Sachs Group lifted their price objective on Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Benchmark upped their target price on Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.23.

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.