Sumitomo Mitsui Trust Holdings Inc. Sells 246,619 Shares of Genius Sports Limited (NYSE:GENI)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Genius Sports Limited (NYSE:GENI) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,800,961 shares of the company’s stock after selling 246,619 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 3.09% of Genius Sports worth $42,030,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NewEdge Wealth LLC bought a new stake in shares of Genius Sports during the 4th quarter valued at about $62,000. P.A.W. Capital Corp boosted its position in Genius Sports by 8.0% during the 4th quarter. P.A.W. Capital Corp now owns 540,000 shares of the company’s stock valued at $3,337,000 after acquiring an additional 40,000 shares in the last quarter. Mirador Capital Partners LP purchased a new position in shares of Genius Sports during the 4th quarter worth approximately $153,000. ARK Investment Management LLC raised its position in shares of Genius Sports by 9.9% in the 4th quarter. ARK Investment Management LLC now owns 6,914,013 shares of the company’s stock worth $42,729,000 after acquiring an additional 620,472 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Genius Sports by 9.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 403,781 shares of the company’s stock valued at $2,495,000 after purchasing an additional 33,546 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Price Performance

NYSE:GENI opened at $5.11 on Friday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -12.77 and a beta of 1.96. The company’s 50 day moving average price is $6.19 and its 200-day moving average price is $5.87. Genius Sports Limited has a 52 week low of $3.55 and a 52 week high of $8.45.

Genius Sports (NYSE:GENI) last issued its earnings results on Wednesday, March 6th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.10). The business had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $126.53 million. Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) earnings per share. As a group, sell-side analysts anticipate that Genius Sports Limited will post -0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GENI has been the topic of several recent research reports. B. Riley initiated coverage on Genius Sports in a research note on Friday, April 5th. They issued a “buy” rating and a $9.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.00 target price on shares of Genius Sports in a research report on Monday, February 26th. Oppenheimer reissued an “outperform” rating and set a $10.00 price target on shares of Genius Sports in a research report on Thursday, April 4th. JMP Securities reissued a “market outperform” rating and set a $8.00 price objective on shares of Genius Sports in a research note on Thursday, March 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Genius Sports in a research note on Tuesday. They set a “buy” rating and a $7.50 target price for the company. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.25.

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.