Sumitomo Mitsui Trust Group Inc. Sells 1,698,769 Shares of Genius Sports Limited $GENI

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Genius Sports Limited (NYSE:GENI) by 39.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,637,965 shares of the company’s stock after selling 1,698,769 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.23% of Genius Sports worth $32,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC increased its position in shares of Genius Sports by 275.5% during the 2nd 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 Genius Sports during the second quarter valued at about $75,000. Amalgamated Bank purchased a new stake in Genius Sports during the second quarter worth about $79,000. Jag Capital Management LLC purchased a new stake in Genius Sports during the second quarter worth about $110,000. Finally, Osaic Holdings Inc. raised its position in Genius Sports by 72.6% in the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock worth $111,000 after acquiring an additional 4,477 shares during the period. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Stock Performance

Shares of Genius Sports stock opened at $9.88 on Friday. The company has a 50-day simple moving average of $10.37 and a two-hundred day simple moving average of $11.34. Genius Sports Limited has a 52-week low of $8.15 and a 52-week high of $13.73. The stock has a market capitalization of $2.13 billion, a PE ratio of -21.02 and a beta of 1.81.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.18). The firm had revenue of $166.28 million for the quarter, compared to the consensus estimate of $156.24 million. Genius Sports had a negative net margin of 19.71% and a negative return on equity of 14.39%. As a group, equities research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GENI. UBS Group set a $16.00 target price on shares of Genius Sports in a research report on Monday, December 8th. Benchmark reiterated a “buy” rating and issued a $16.00 price objective on shares of Genius Sports in a research note on Tuesday, December 30th. Guggenheim set a $17.00 price objective on Genius Sports in a report on Thursday, December 4th. BTIG Research boosted their target price on Genius Sports from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Finally, The Goldman Sachs Group increased their price objective on Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

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.