Wells Fargo & Company MN Sells 2,446,770 Shares of Genius Sports Limited (NYSE:GENI)

Wells Fargo & Company MN lessened its stake in shares of Genius Sports Limited (NYSE:GENI) by 89.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 301,101 shares of the company’s stock after selling 2,446,770 shares during the period. Wells Fargo & Company MN owned approximately 0.14% of Genius Sports worth $2,605,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Genius Sports during the 4th quarter worth approximately $12,332,000. JPMorgan Chase & Co. increased its stake in Genius Sports by 138.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company’s stock worth $14,264,000 after purchasing an additional 957,559 shares during the period. Perigon Wealth Management LLC bought a new stake in shares of Genius Sports during the fourth quarter worth $136,000. D.A. Davidson & CO. boosted its stake in shares of Genius Sports by 2.7% during the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock valued at $464,000 after purchasing an additional 1,396 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Genius Sports in the fourth quarter worth about $11,292,000. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Stock Performance

Shares of Genius Sports stock opened at $10.55 on Friday. Genius Sports Limited has a one year low of $4.91 and a one year high of $11.16. The company has a market capitalization of $2.27 billion, a PE ratio of -32.97 and a beta of 1.98. The company has a 50-day simple moving average of $9.64 and a two-hundred day simple moving average of $8.99.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). The firm had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same period in the prior year, the firm posted ($0.10) earnings per share. On average, equities analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

GENI has been the subject of several research reports. B. Riley assumed coverage on shares of Genius Sports in a research report on Tuesday, March 18th. They issued a “buy” rating for the company. Citizens Jmp lowered Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Lake Street Capital raised their price objective on Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Guggenheim initiated coverage on Genius Sports in a research report on Tuesday, March 18th. They set a “buy” rating and a $12.00 target price for the company. Finally, JMP Securities reissued a “market outperform” rating and set a $11.00 price target on shares of Genius Sports in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.19.

Genius Sports Company 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.