Sumitomo Mitsui Trust Group Inc. Sells 1,631,274 Shares of Genius Sports Limited (NYSE:GENI)

Sumitomo Mitsui Trust Group Inc. cut its holdings in Genius Sports Limited (NYSE:GENI) by 19.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,677,699 shares of the company’s stock after selling 1,631,274 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 2.91% of Genius Sports worth $52,353,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in shares of Genius Sports in the 3rd quarter valued at about $532,000. Olympiad Research LP acquired a new stake in shares of Genius Sports in the third quarter valued at about $209,000. Harbor Capital Advisors Inc. bought a new stake in Genius Sports during the third quarter worth about $2,465,000. Fullcircle Wealth LLC acquired a new position in Genius Sports during the third quarter valued at approximately $118,000. Finally, Arkadios Wealth Advisors bought a new position in Genius Sports in the third quarter valued at approximately $79,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Trading Down 3.0 %

Shares of NYSE GENI opened at $9.11 on Friday. The business’s 50 day moving average is $7.66 and its 200-day moving average is $6.58. The firm has a market cap of $2.09 billion, a P/E ratio of -28.47 and a beta of 1.98. Genius Sports Limited has a 1-year low of $4.91 and a 1-year high of $10.15.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. Analysts forecast that Genius Sports Limited will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Tuesday. Oppenheimer boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. Macquarie upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, B. Riley lifted their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $10.39.

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.