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

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 19.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,677,699 shares of the company's stock after selling 1,631,274 shares during the period. 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 also recently added to or reduced their stakes in GENI. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Genius Sports by 42.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company's stock worth $98,000 after purchasing an additional 5,342 shares in the last quarter. Levin Capital Strategies L.P. raised its position in shares of Genius Sports by 40.0% during the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company's stock worth $200,000 after acquiring an additional 10,000 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Genius Sports during the third quarter valued at $78,000. Arkadios Wealth Advisors acquired a new stake in Genius Sports in the third quarter worth about $79,000. Finally, Koss Olinger Consulting LLC bought a new stake in Genius Sports during the 2nd quarter worth about $64,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Stock Down 3.0 %

GENI traded down $0.28 during trading on Friday, hitting $9.11. The company had a trading volume of 4,510,859 shares, compared to its average volume of 2,394,244. The firm's 50-day moving average price is $7.66 and its 200 day moving average price is $6.58. The company has a market capitalization of $2.09 billion, a PE ratio of -28.47 and a beta of 1.98. Genius Sports Limited has a one year low of $4.91 and a one year high of $10.15.

Genius Sports (NYSE:GENI - Get Free Report) 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 company had revenue of $120.20 million during 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%. Genius Sports's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. Sell-side analysts forecast that Genius Sports Limited will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on GENI. 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 research report on Wednesday. Benchmark boosted their target price on Genius Sports from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price target on shares of Genius Sports in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Genius Sports from $8.50 to $11.50 and gave the company a "buy" rating in a report on Thursday. Finally, B. Riley upped their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $10.39.

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.