Millrace Asset Group Inc. Purchases New Position in Genius Sports Limited (NYSE:GENI)

Millrace Asset Group Inc. acquired a new position in Genius Sports Limited (NYSE:GENI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 241,934 shares of the company’s stock, valued at approximately $1,897,000. Genius Sports makes up about 1.9% of Millrace Asset Group Inc.’s investment portfolio, making the stock its 21st largest holding. Millrace Asset Group Inc. owned about 0.11% of Genius Sports at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in shares of Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after buying an additional 2,507,165 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in Genius Sports in the 3rd quarter valued at $409,000. Canton Hathaway LLC purchased a new stake in Genius Sports in the 3rd quarter worth $161,000. Senvest Management LLC raised its position in Genius Sports by 12.2% during 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. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Genius Sports by 10.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock valued at $58,959,000 after purchasing an additional 691,539 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Trading Up 3.0 %

Shares of NYSE GENI opened at $9.34 on Tuesday. Genius Sports Limited has a twelve month low of $4.91 and a twelve month high of $10.15. The stock has a market cap of $2.14 billion, a P/E ratio of -29.19 and a beta of 1.98. The stock has a 50 day moving average of $7.84 and a two-hundred day moving average of $6.76.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Benchmark lifted their target price on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research note on Tuesday, November 12th. B. Riley lifted 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 13th. Finally, Macquarie raised their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $10.39.

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.