Genius Sports Limited $GENI Stock Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Genius Sports Limited (NYSE:GENI) by 24.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,336,734 shares of the company’s stock after selling 1,367,258 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Genius Sports were worth $45,102,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP acquired a new position in Genius Sports in the first quarter valued at approximately $37,000. Pacer Advisors Inc. grew its holdings in shares of Genius Sports by 61.5% during the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company’s stock valued at $38,000 after purchasing an additional 1,430 shares during the last quarter. CWM LLC grew its holdings in shares of Genius Sports by 275.5% during the second quarter. CWM LLC now owns 3,980 shares of the company’s stock valued at $41,000 after purchasing an additional 2,920 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Genius Sports during the second quarter valued at approximately $75,000. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in shares of Genius Sports by 46.7% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 9,777 shares of the company’s stock valued at $98,000 after purchasing an additional 3,112 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GENI shares. Truist Financial started coverage on Genius Sports in a report on Tuesday, July 1st. They set a “buy” rating and a $14.00 target price for the company. Arete assumed coverage on shares of Genius Sports in a research report on Wednesday, July 9th. They issued a “buy” rating and a $15.00 target price for the company. UBS Group upped their target price on shares of Genius Sports from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Needham & Company LLC upped their target price on shares of Genius Sports from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, B. Riley upped their target price on shares of Genius Sports from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Genius Sports currently has a consensus rating of “Moderate Buy” and an average price target of $14.22.

Genius Sports Trading Down 0.0%

Shares of NYSE:GENI opened at $12.03 on Tuesday. The company has a 50 day moving average of $12.44 and a 200-day moving average of $11.18. The firm has a market cap of $2.59 billion, a P/E ratio of -38.79 and a beta of 1.85. Genius Sports Limited has a twelve month low of $6.72 and a twelve month high of $13.73.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The company had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. During the same period in the prior year, the company posted ($0.09) earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. Equities research analysts forecast that Genius Sports Limited will post -0.1 EPS 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.