IFC Advisors Bets on Online Gambling With a 676,000 Genius Sports (GENI) Buy
IFC Advisors increased its stake in Genius Sports by 676,034 shares, betting on the company despite its stock being down 59% in 2026.Summary
According to an SEC filing dated May 4, 2026, IFC Advisors LLC increased its stake in Genius Sports by purchasing 676,034 shares valued at approximately $4.81 million. This move raises the firm's total holding to around 3.6 million shares, making it the seventh-largest holding in its portfolio. Despite the stock's significant decline of 59.7% over the past year and underperformance against the S&P 500, IFC Advisors appears to be doubling down on its investment. Genius Sports, a provider of technology infrastructure and live sports data, recently acquired Legend for up to $1.2 billion, requiring the company to borrow $850 million. The firm is set to report first-quarter 2026 results on May 7, 2026, following a year where sales grew 31% to $669.5 million, though it still reported a net loss of $111.6 million.
(Source：Fool)