Raymond James Financial Inc. Takes Position in Genius Sports Limited (NYSE:GENI)

Raymond James Financial Inc. purchased a new position in shares of Genius Sports Limited (NYSE:GENI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,425,633 shares of the company’s stock, valued at approximately $12,332,000.

Other institutional investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC bought a new position in Genius Sports in the 4th quarter valued at $136,000. D.A. Davidson & CO. boosted its holdings in shares of Genius Sports by 2.7% in the 4th quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock worth $464,000 after buying an additional 1,396 shares during the last quarter. GSA Capital Partners LLP bought a new position in Genius Sports during the third quarter valued at about $532,000. Allspring Global Investments Holdings LLC purchased a new stake in Genius Sports during the fourth quarter worth about $11,292,000. Finally, Senvest Management LLC raised its position in Genius Sports by 12.2% in the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after acquiring an additional 819,385 shares during the period. 81.91% of the stock is owned by institutional investors.

Genius Sports Stock Up 3.1 %

Shares of NYSE GENI opened at $9.64 on Thursday. The business has a 50-day simple moving average of $9.12 and a two-hundred day simple moving average of $8.55. Genius Sports Limited has a 52 week low of $4.91 and a 52 week high of $10.33. The company has a market cap of $2.08 billion, a P/E ratio of -30.13 and a beta of 2.14.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The firm had revenue of $175.53 million for the quarter, compared to analysts’ expectations of $175.52 million. During the same period in the prior year, the firm posted ($0.10) EPS. Equities research analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. B. Riley assumed coverage on shares of Genius Sports in a research report on Tuesday. They set a “buy” rating for the company. The Goldman Sachs Group increased their price objective on Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a report on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and issued a $11.00 target price on shares of Genius Sports in a research note on Monday, January 27th. Benchmark increased their price target on Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Citigroup boosted their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.23.

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.