Channel Wealth LLC Grows Stock Holdings in Genius Sports Limited $GENI

Channel Wealth LLC raised its holdings in shares of Genius Sports Limited (NYSE:GENI) by 912.4% during the third quarter, HoldingsChannel reports. The fund owned 356,418 shares of the company’s stock after purchasing an additional 321,214 shares during the quarter. Genius Sports comprises about 1.2% of Channel Wealth LLC’s investment portfolio, making the stock its 27th biggest holding. Channel Wealth LLC’s holdings in Genius Sports were worth $4,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Genius Sports in the first quarter valued at $37,000. CWM LLC grew its holdings in Genius Sports by 275.5% during the 2nd quarter. CWM LLC now owns 3,980 shares of the company’s stock valued at $41,000 after buying an additional 2,920 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Genius Sports during the second quarter valued at about $75,000. Amalgamated Bank purchased a new stake in shares of Genius Sports in the second quarter worth about $79,000. Finally, Jag Capital Management LLC purchased a new stake in shares of Genius Sports in the second quarter worth about $110,000. 81.91% of the stock is owned by institutional investors.

Genius Sports Stock Performance

Shares of NYSE:GENI opened at $10.66 on Thursday. The firm has a market capitalization of $2.29 billion, a PE ratio of -22.68 and a beta of 1.94. Genius Sports Limited has a 52-week low of $8.15 and a 52-week high of $13.73. The firm has a fifty day moving average of $10.77 and a 200 day moving average of $11.21.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.18). Genius Sports had a negative return on equity of 14.39% and a negative net margin of 19.71%.The firm had revenue of $166.28 million for the quarter, compared to the consensus estimate of $156.24 million. On average, sell-side analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GENI. Benchmark reaffirmed a “buy” rating on shares of Genius Sports in a report on Monday, December 8th. The Goldman Sachs Group boosted their price target on shares of Genius Sports from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Guggenheim set a $17.00 price objective on Genius Sports in a research report on Thursday, December 4th. UBS Group set a $16.00 target price on Genius Sports in a research report on Monday, December 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Genius Sports in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.05.

Genius Sports 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.