Wellington Management Group LLP Acquires 5,772,540 Shares of Genius Sports Limited (NYSE:GENI)

Wellington Management Group LLP increased its holdings in Genius Sports Limited (NYSE:GENI) by 383.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,277,462 shares of the company’s stock after purchasing an additional 5,772,540 shares during the period. Wellington Management Group LLP owned approximately 3.31% of Genius Sports worth $44,975,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. NewEdge Wealth LLC bought a new stake in Genius Sports in the fourth quarter worth $62,000. Algert Global LLC bought a new position in Genius Sports during the third quarter valued at $68,000. Brown Advisory Inc. bought a new position in Genius Sports during the fourth quarter valued at $76,000. MQS Management LLC bought a new position in Genius Sports during the third quarter valued at $88,000. Finally, Victory Capital Management Inc. bought a new position in Genius Sports during the fourth quarter valued at $105,000. Institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research report on Thursday, May 9th. Benchmark reiterated a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research report on Thursday, March 7th. Citigroup initiated coverage on shares of Genius Sports in a research report on Thursday, June 13th. They set a “buy” rating and a $9.00 price objective on the stock. B. Riley initiated coverage on shares of Genius Sports in a research note on Friday, April 5th. They set a “buy” rating and a $9.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 target price on shares of Genius Sports in a research note on Monday, February 26th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports has a consensus rating of “Buy” and a consensus price target of $9.33.

Genius Sports Price Performance

NYSE:GENI opened at $5.42 on Monday. Genius Sports Limited has a 1-year low of $4.62 and a 1-year high of $8.45. The company has a 50-day moving average of $5.26 and a 200 day moving average of $5.91. The firm has a market cap of $1.24 billion, a PE ratio of -13.90 and a beta of 1.96.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. The business had revenue of $119.72 million during the quarter, compared to analysts’ expectations of $116.53 million. During the same period last year, the company earned ($0.12) earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. Sell-side analysts anticipate that Genius Sports Limited will post -0.17 EPS 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.