Genius Sports Limited (NYSE:GENI) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Genius Sports Limited (NYSE:GENI) by 28.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,531,692 shares of the company’s stock after selling 996,314 shares during the period. Bank of New York Mellon Corp owned 1.18% of Genius Sports worth $25,342,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Emerald Mutual Fund Advisers Trust bought a new position in shares of Genius Sports during the fourth quarter worth about $58,000. Park National Corp OH bought a new position in Genius Sports in the 1st quarter valued at about $107,000. Bayesian Capital Management LP bought a new position in Genius Sports in the 4th quarter valued at about $129,000. Envestnet Asset Management Inc. grew its position in Genius Sports by 27.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company’s stock valued at $143,000 after buying an additional 3,548 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Genius Sports by 19.4% in the 4th quarter. ProShare Advisors LLC now owns 17,132 shares of the company’s stock valued at $148,000 after buying an additional 2,787 shares in the last quarter. Institutional investors own 81.91% of the company’s stock.

Genius Sports Trading Up 5.5%

GENI stock opened at $10.79 on Thursday. Genius Sports Limited has a one year low of $5.60 and a one year high of $11.40. The firm has a market capitalization of $2.32 billion, a PE ratio of -56.78 and a beta of 1.86. The firm has a 50-day moving average of $9.99 and a two-hundred day moving average of $9.67.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. The business had revenue of $143.99 million for the quarter, compared to the consensus estimate of $143.31 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Genius Sports’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, equities research analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports announced that its board has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Arete Research upgraded shares of Genius Sports to a “strong-buy” rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a research report on Monday, April 21st. They issued a “buy” rating and a $12.00 target price for the company. Arete assumed coverage on shares of Genius Sports in a research report on Wednesday, July 9th. They issued a “buy” rating and a $15.00 target price for the company. BTIG Research increased their target price on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $12.63.

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.