Truist Financial Corp boosted its holdings in Genius Sports Limited (NYSE:GENI – Get Rating) by 67.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,348 shares of the company’s stock after purchasing an additional 11,376 shares during the quarter. Truist Financial Corp’s holdings in Genius Sports were worth $130,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in GENI. Caledonia Private Investments Pty Ltd lifted its stake in Genius Sports by 10.6% in the fourth quarter. Caledonia Private Investments Pty Ltd now owns 18,477,075 shares of the company’s stock valued at $140,426,000 after buying an additional 1,776,848 shares during the last quarter. ARK Investment Management LLC lifted its stake in Genius Sports by 2.0% in the first quarter. ARK Investment Management LLC now owns 5,388,472 shares of the company’s stock valued at $24,787,000 after buying an additional 104,663 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Genius Sports by 53.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 5,343,686 shares of the company’s stock valued at $41,414,000 after buying an additional 1,868,063 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Genius Sports by 38.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,650,282 shares of the company’s stock valued at $27,742,000 after buying an additional 1,011,033 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Genius Sports in the fourth quarter valued at $2,453,000. Institutional investors and hedge funds own 42.13% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on GENI shares. B. Riley cut their target price on Genius Sports from $9.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, June 28th. Citigroup cut their price objective on shares of Genius Sports from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.93.
Genius Sports Price Performance
Genius Sports (NYSE:GENI – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. Genius Sports had a negative net margin of 212.81% and a negative return on equity of 40.24%. The firm had revenue of $85.92 million for the quarter, compared to analysts’ expectations of $77.88 million. During the same period in the previous year, the business earned ($1.68) earnings per share. Genius Sports’s revenue for the quarter was up 59.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Genius Sports Limited will post -0.53 EPS for the current fiscal year.
Genius Sports Profile
Genius Sports Limited develops and sells 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.
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