Sound Income Strategies LLC Takes $78,000 Position in Genius Sports Limited (NYSE:GENI)

Sound Income Strategies LLC purchased a new position in shares of Genius Sports Limited (NYSE:GENI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the company’s stock, valued at approximately $78,000.

Other large investors have also bought and sold shares of the company. Koss Olinger Consulting LLC acquired a new position in Genius Sports during the second quarter valued at approximately $64,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Genius Sports in the 2nd quarter valued at $67,000. Virtu Financial LLC bought a new position in Genius Sports during the first quarter worth about $94,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Genius Sports by 42.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock valued at $98,000 after acquiring an additional 5,342 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of Genius Sports in the second quarter worth about $102,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Trading Up 2.9 %

NYSE GENI opened at $7.79 on Tuesday. The company has a market cap of $1.79 billion, a PE ratio of -19.97 and a beta of 1.96. Genius Sports Limited has a 12 month low of $4.62 and a 12 month high of $8.64. The stock has a 50 day moving average of $7.50 and a 200-day moving average of $6.23.

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 return on equity of 15.30% and a negative net margin of 21.93%. The firm had revenue of $95.50 million for the quarter, compared to analyst estimates of $94.15 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts predict that Genius Sports Limited will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GENI has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research note on Tuesday, August 6th. Macquarie cut 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 report on Thursday, July 18th. The Goldman Sachs Group increased their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Thursday, August 8th. B. Riley boosted their price target on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a report on Friday. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Genius Sports has an average rating of “Buy” and a consensus target price of $9.45.

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.