Castleark Management LLC Cuts Stock Holdings in Genius Sports Limited (NYSE:GENI)

Castleark Management LLC lessened its stake in Genius Sports Limited (NYSE:GENI) by 62.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 236,630 shares of the company’s stock after selling 391,460 shares during the quarter. Castleark Management LLC owned approximately 0.10% of Genius Sports worth $1,351,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Levin Capital Strategies L.P. increased its stake in Genius Sports by 40.0% in the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock valued at $200,000 after purchasing an additional 10,000 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in Genius Sports by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,159,465 shares of the company’s stock valued at $6,621,000 after acquiring an additional 50,482 shares during the period. MQS Management LLC acquired a new stake in Genius Sports in the first quarter valued at $167,000. Oppenheimer & Co. Inc. increased its position in shares of Genius Sports by 58.2% in the first quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company’s stock valued at $467,000 after buying an additional 30,089 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Genius Sports in the first quarter valued at $119,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Wall Street Analysts Forecast Growth

GENI has been the subject of a number of recent research reports. Macquarie dropped their price objective on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Citigroup initiated coverage on Genius Sports in a research report on Thursday, June 13th. They set a “buy” rating and a $9.00 price objective for the company. JMP Securities lifted their price objective on Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 9th. B. Riley started coverage on Genius Sports in a report on Friday, April 5th. They issued a “buy” rating and a $9.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on Genius Sports in a research note on Tuesday, April 16th. They issued a “buy” rating and a $7.50 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports presently has an average rating of “Buy” and an average price target of $9.18.

Genius Sports Trading Down 1.9 %

GENI traded down $0.13 during trading on Thursday, reaching $6.70. 2,180,729 shares of the company were exchanged, compared to its average volume of 2,140,123. The stock has a market cap of $1.54 billion, a P/E ratio of -17.46 and a beta of 1.96. The firm has a 50 day moving average of $5.60 and a 200 day moving average of $5.90. Genius Sports Limited has a 52 week low of $4.62 and a 52 week high of $8.45.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $116.53 million. During the same quarter last year, the firm posted ($0.12) EPS. The company’s revenue was up 23.1% compared to the same quarter last year. As a group, analysts forecast that Genius Sports Limited will post -0.17 earnings per share for the current fiscal year.

Genius Sports Company 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.