The Manufacturers Life Insurance Company Lowers Stock Position in Genius Sports Limited $GENI

The Manufacturers Life Insurance Company lessened its holdings in shares of Genius Sports Limited (NYSE:GENI) by 98.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,038 shares of the company’s stock after selling 3,727,468 shares during the period. The Manufacturers Life Insurance Company’s holdings in Genius Sports were worth $244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Infrastructure Capital Advisors LLC increased its stake in shares of Genius Sports by 15.6% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 26,000 shares of the company’s stock worth $115,000 after acquiring an additional 3,500 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Genius Sports by 274.3% during the first quarter. Quantinno Capital Management LP now owns 102,534 shares of the company’s stock valued at $454,000 after purchasing an additional 75,142 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Genius Sports during the first quarter valued at approximately $137,000. ABS Direct Equity Fund LLC purchased a new position in Genius Sports during the first quarter valued at $1,772,000. Finally, Senvest Management LLC boosted its stake in Genius Sports by 45.1% in the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after purchasing an additional 4,243,157 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GENI shares. Weiss Ratings raised Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Oppenheimer boosted their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. BTIG Research upped their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Guggenheim raised their price target on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Citigroup reduced their price target on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.44.

Genius Sports Price Performance

NYSE GENI opened at $7.72 on Tuesday. Genius Sports Limited has a 52 week low of $3.83 and a 52 week high of $13.73. The firm has a market capitalization of $1.90 billion, a P/E ratio of -11.35 and a beta of 1.90. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The company has a 50-day moving average price of $6.77 and a 200-day moving average price of $5.87.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.21). The business had revenue of $195.50 million during the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.Genius Sports’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) EPS. Equities research analysts anticipate that Genius Sports Limited will post -0.34 earnings per share for the current year.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.