Is it Time to Exit Your Genius Sports (GENI) Position?

Singular Research, an investment management firm, published its November 2021 investor letter – a copy of which can be seen here. For the month of November, the Singular coverage list underperformed the S&P 500 and Russell 2000 by (593) and (248) basis points, respectively.  Over the last twelve months, the Singular coverage list outperformed the S&P 500 and Russell 2000 by 3,502 and 4,029 basis points, respectively. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Singular Research, in its Q3 2021 investor letter, mentioned Genius Sports Limited (NYSE: GENI) and discussed its stance on the firm. Genius Sports Limited is a London, United Kingdom-based sports data and technology company with a $1.4 billion market capitalization. GENI delivered a -56.91% return since the beginning of the year, while its 12-month returns are down by -54.28%. The stock closed at $7.58 per share on December 21, 2021.

Here is what Singular Research has to say about Genius Sports Limited  in its Q3 2021 investor letter:

“GENI was our worst performer for the month as the Company reported weaker-than-expected Q3 results. Even though the Company had year-over-year revenue growth of 71%, the Company incurred a gross loss for the quarter.”

Photo by Jannik Skorna on Unsplash

Based on our calculations, Genius Sports Limited (NYSE: GENI) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. GENI was in 31 hedge fund portfolios at the end of the third quarter of 2021, compared to 39 funds in the previous quarter. Genius Sports Limited (NYSE: GENI) delivered a -61.23% return in the past 3 months.

In October this year, we also shared another hedge fund’s views on GENI in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.