Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Genius Sports Limited $GENI

Sumitomo Mitsui Trust Group Inc. lowered its position in Genius Sports Limited (NYSE:GENI) by 24.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,336,734 shares of the company’s stock after selling 1,367,258 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 2.01% of Genius Sports worth $45,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GENI. Quarry LP acquired a new position in Genius Sports in the first quarter valued at $37,000. Pacer Advisors Inc. boosted its position in Genius Sports by 61.5% during the 1st quarter. Pacer Advisors Inc. now owns 3,754 shares of the company’s stock worth $38,000 after purchasing an additional 1,430 shares during the period. CWM LLC boosted its position in Genius Sports by 275.5% during the 2nd quarter. CWM LLC now owns 3,980 shares of the company’s stock worth $41,000 after purchasing an additional 2,920 shares during the period. FNY Investment Advisers LLC purchased a new stake in Genius Sports during the 2nd quarter worth $75,000. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Genius Sports by 46.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 9,777 shares of the company’s stock worth $98,000 after purchasing an additional 3,112 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Price Performance

Shares of GENI stock opened at $12.03 on Tuesday. Genius Sports Limited has a 12 month low of $6.72 and a 12 month high of $13.73. The firm has a market capitalization of $2.59 billion, a P/E ratio of -38.79 and a beta of 1.85. The company’s fifty day moving average price is $12.44 and its two-hundred day moving average price is $11.18.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). The firm had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) EPS. On average, sell-side analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Arete assumed coverage on shares of Genius Sports in a research report on Wednesday, July 9th. They set a “buy” rating and a $15.00 price target for the company. Northland Securities assumed coverage on shares of Genius Sports in a research report on Friday, July 25th. They set an “outperform” rating and a $14.00 price target for the company. Macquarie upped their price target on shares of Genius Sports from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Wall Street Zen cut shares of Genius Sports from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, B. Riley upped their price target on shares of Genius Sports from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Genius Sports has a consensus rating of “Moderate Buy” and a consensus target price of $14.22.

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.