Genius Sports Limited (NYSE:GENI) Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,528,006 shares of the company's stock after selling 177,817 shares during the quarter. Bank of New York Mellon Corp owned 1.64% of Genius Sports worth $30,517,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Olympiad Research LP acquired a new stake in shares of Genius Sports in the third quarter valued at about $209,000. GSA Capital Partners LLP purchased a new position in Genius Sports in the 3rd quarter worth approximately $532,000. Moors & Cabot Inc. acquired a new stake in Genius Sports in the third quarter valued at approximately $265,000. Massachusetts Financial Services Co. MA raised its stake in shares of Genius Sports by 10.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company's stock valued at $58,959,000 after purchasing an additional 691,539 shares during the period. Finally, Senvest Management LLC lifted its position in shares of Genius Sports by 12.2% during the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company's stock worth $59,167,000 after purchasing an additional 819,385 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on GENI. Oppenheimer lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Citizens Jmp lowered Genius Sports from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Lake Street Capital increased their price target on Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Needham & Company LLC set a $13.00 price objective on Genius Sports in a research note on Wednesday, March 5th. Finally, Benchmark upped their target price on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.25.

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Genius Sports Price Performance

GENI traded up $0.03 during trading hours on Wednesday, hitting $9.42. 1,589,706 shares of the stock were exchanged, compared to its average volume of 2,440,287. Genius Sports Limited has a 12 month low of $4.91 and a 12 month high of $10.33. The stock has a 50-day simple moving average of $9.05 and a 200-day simple moving average of $8.49. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -29.40 and a beta of 2.14.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). The business had revenue of $175.53 million during the quarter, compared to analyst estimates of $175.52 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same period last year, the firm posted ($0.10) earnings per share. Sell-side analysts expect that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports Profile

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.