Needham Investment Management LLC Purchases 227,500 Shares of Genius Sports Limited (NYSE:GENI)

Needham Investment Management LLC lifted its stake in Genius Sports Limited (NYSE:GENI) by 10.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,327,500 shares of the company’s stock after buying an additional 227,500 shares during the quarter. Genius Sports makes up about 1.4% of Needham Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. Needham Investment Management LLC’s holdings in Genius Sports were worth $18,248,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Genius Sports in the first quarter worth $94,000. Clear Harbor Asset Management LLC bought a new position in shares of Genius Sports during the 2nd quarter worth $164,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Genius Sports by 42.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock valued at $98,000 after purchasing an additional 5,342 shares in the last quarter. Roubaix Capital LLC lifted its position in shares of Genius Sports by 16.4% in the 2nd quarter. Roubaix Capital LLC now owns 869,110 shares of the company’s stock worth $4,737,000 after purchasing an additional 122,544 shares during the period. Finally, Koss Olinger Consulting LLC bought a new position in shares of Genius Sports during the second quarter valued at approximately $64,000. 81.91% of the stock is owned by institutional investors.

Genius Sports Price Performance

Shares of GENI stock traded down $0.09 on Tuesday, hitting $9.66. The stock had a trading volume of 401,516 shares, compared to its average volume of 2,397,406. The company’s 50 day moving average price is $8.00 and its 200-day moving average price is $6.89. Genius Sports Limited has a 1 year low of $4.91 and a 1 year high of $10.15.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts anticipate that Genius Sports Limited will post -0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GENI shares. Benchmark upped their price objective on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group lifted their price objective on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Oppenheimer increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Macquarie increased their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $10.72.

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.