Genius Sports Limited (NYSE:GENI) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Genius Sports Limited (NYSE:GENI) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,308,973 shares of the company’s stock after selling 194,590 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 3.62% of Genius Sports worth $45,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of GENI. Brown Advisory Inc. acquired a new position in shares of Genius Sports in the 4th quarter valued at $76,000. Virtu Financial LLC acquired a new position in Genius Sports in the first quarter valued at $94,000. Victory Capital Management Inc. purchased a new stake in shares of Genius Sports in the fourth quarter valued at about $105,000. SG Americas Securities LLC acquired a new stake in shares of Genius Sports during the first quarter worth about $119,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Genius Sports during the second quarter worth about $164,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Analyst Ratings Changes

GENI has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research note on Tuesday, August 6th. JMP Securities increased their price target on Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday, May 9th. B. Riley lifted their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Macquarie cut their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Finally, Citigroup began coverage on shares of Genius Sports in a research note on Thursday, June 13th. They issued a “buy” rating and a $9.00 target price for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $9.45.

Genius Sports Price Performance

NYSE:GENI opened at $7.29 on Monday. The firm’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $5.94. The stock has a market cap of $1.67 billion, a PE ratio of -18.69 and a beta of 1.95. Genius Sports Limited has a fifty-two week low of $4.62 and a fifty-two week high of $7.77.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. The company had revenue of $95.50 million for the quarter, compared to analysts’ expectations of $94.15 million. During the same period in the prior year, the firm posted ($0.05) EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Equities analysts anticipate that Genius Sports Limited will post -0.17 earnings per share for the current year.

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.