Granahan Investment Management LLC Sells 2,470,110 Shares of Genius Sports Limited $GENI

Granahan Investment Management LLC decreased its holdings in shares of Genius Sports Limited (NYSE:GENI) by 31.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,383,762 shares of the company’s stock after selling 2,470,110 shares during the quarter. Genius Sports comprises about 1.2% of Granahan Investment Management LLC’s investment portfolio, making the stock its 25th largest position. Granahan Investment Management LLC’s holdings in Genius Sports were worth $23,850,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Parallel Advisors LLC purchased a new position in shares of Genius Sports in the 1st quarter worth $25,000. Baer Investment Advisory LLC purchased a new stake in shares of Genius Sports during the 1st quarter valued at about $61,000. UMB Bank n.a. purchased a new stake in shares of Genius Sports during the 4th quarter valued at about $63,000. Principal Financial Group Inc. lifted its holdings in shares of Genius Sports by 24.1% in the 1st quarter. Principal Financial Group Inc. now owns 16,038 shares of the company’s stock valued at $71,000 after acquiring an additional 3,114 shares during the last quarter. Finally, Clarus Group Inc. bought a new position in shares of Genius Sports in the 1st quarter valued at about $87,000. Institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GENI. Roth Capital set a $10.00 price objective on Genius Sports in a research note on Friday, May 8th. Wall Street Zen raised Genius Sports from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 18th. Truist Financial dropped their target price on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. BTIG Research dropped their target price on Genius Sports from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Citigroup cut their target price on Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.56.

Genius Sports Price Performance

Shares of NYSE GENI opened at $6.53 on Friday. Genius Sports Limited has a 1 year low of $3.83 and a 1 year high of $13.73. The firm has a 50-day simple moving average of $6.14 and a two-hundred day simple moving average of $6.18. The company has a market cap of $1.61 billion, a P/E ratio of -10.70 and a beta of 1.91.

Genius Sports (NYSE:GENI) last released its earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The business had revenue of $187.95 million for the quarter, compared to the consensus estimate of $170.60 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, equities research analysts expect that Genius Sports Limited will post -0.12 EPS for the current year.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.