The Manufacturers Life Insurance Company Trims Stock Holdings in Genius Sports Limited $GENI

The Manufacturers Life Insurance Company lowered its stake in Genius Sports Limited (NYSE:GENI) by 98.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,038 shares of the company’s stock after selling 3,727,468 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Genius Sports were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC bought a new position in shares of Genius Sports during the 1st quarter valued at approximately $25,000. UMB Bank n.a. purchased a new position in Genius Sports during the fourth quarter valued at approximately $63,000. Osaic Holdings Inc. lifted its holdings in Genius Sports by 72.6% during the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock valued at $111,000 after purchasing an additional 4,477 shares in the last quarter. Orion Porfolio Solutions LLC bought a new position in shares of Genius Sports in the second quarter worth approximately $112,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Genius Sports in the fourth quarter worth approximately $129,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup decreased their price objective on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Freedom Capital upgraded Genius Sports to a “strong-buy” rating in a research note on Monday, July 20th. Wells Fargo & Company reissued an “equal weight” rating and set a $8.00 price target on shares of Genius Sports in a report on Friday, August 7th. Truist Financial lowered their price objective on Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Finally, Guggenheim upped their price objective on Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Stock Down 7.9%

Shares of GENI opened at $7.72 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -11.35 and a beta of 1.90. Genius Sports Limited has a 1 year low of $3.83 and a 1 year high of $13.73. The business’s 50 day simple moving average is $6.77 and its 200-day simple moving average is $5.87.

Genius Sports (NYSE:GENI) last posted its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The business had revenue of $195.50 million during the quarter, compared to analysts’ expectations of $184.43 million. During the same period last year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was up 64.7% compared to the same quarter last year. As a group, equities analysts expect that Genius Sports Limited will post -0.34 earnings per share for the current fiscal year.

Genius Sports Profile

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.