Discovery Capital Management LLC CT Sells 231,999 Shares of Genius Sports Limited (NYSE:GENI)

Discovery Capital Management LLC CT lessened its holdings in shares of Genius Sports Limited (NYSE:GENI) by 4.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,572,168 shares of the company’s stock after selling 231,999 shares during the period. Genius Sports accounts for about 3.3% of Discovery Capital Management LLC CT’s portfolio, making the stock its 11th largest position. Discovery Capital Management LLC CT owned 1.99% of Genius Sports worth $24,918,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GENI. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in 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 worth $98,000 after purchasing an additional 5,342 shares during the last quarter. Levin Capital Strategies L.P. raised its position in shares of Genius Sports by 40.0% during the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $200,000 after acquiring an additional 10,000 shares during the last quarter. Koss Olinger Consulting LLC acquired a new position in shares of Genius Sports during the second quarter valued at $64,000. Brown Advisory Inc. acquired a new position in shares of Genius Sports during the fourth quarter valued at $76,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Genius Sports in the second quarter valued at about $67,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GENI. 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 target price on the stock. Macquarie reduced their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. B. Riley upped their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group lifted their price objective on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $9.45.

Genius Sports Trading Down 0.1 %

Shares of Genius Sports stock opened at $7.86 on Monday. The stock’s fifty day simple moving average is $7.08 and its 200 day simple moving average is $6.02. The company has a market capitalization of $1.80 billion, a PE ratio of -20.15 and a beta of 1.96. Genius Sports Limited has a 12 month low of $4.62 and a 12 month high of $8.15.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The business had revenue of $95.50 million for the quarter, compared to the consensus estimate of $94.15 million. During the same quarter last year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts predict that Genius Sports Limited will post -0.2 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.