ARK Investment Management LLC Has $36.68 Million Stake in Genius Sports Limited (NYSE:GENI)

ARK Investment Management LLC reduced its stake in Genius Sports Limited (NYSE:GENI) by 25.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,678,655 shares of the company’s stock after selling 1,582,319 shares during the period. ARK Investment Management LLC owned 2.04% of Genius Sports worth $36,681,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Olympiad Research LP acquired a new position in Genius Sports during the third quarter worth $209,000. Harbor Capital Advisors Inc. bought a new stake in shares of Genius Sports during the third quarter worth about $2,465,000. Fullcircle Wealth LLC acquired a new stake in shares of Genius Sports in the 3rd quarter worth about $118,000. Arkadios Wealth Advisors bought a new position in Genius Sports in the 3rd quarter valued at about $79,000. Finally, Sound Income Strategies LLC acquired a new position in Genius Sports during the 3rd quarter valued at about $78,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GENI. B. Riley upped their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Macquarie decreased their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. The Goldman Sachs Group boosted their target price on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday, August 6th. Finally, Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Genius Sports currently has a consensus rating of “Buy” and an average target price of $9.45.

Genius Sports Price Performance

GENI opened at $7.74 on Friday. Genius Sports Limited has a one year low of $4.73 and a one year high of $8.64. The firm has a market capitalization of $1.78 billion, a P/E ratio of -18.00 and a beta of 1.98. The company has a fifty day moving average price of $7.47 and a 200-day moving average price of $6.43.

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