Sumitomo Mitsui DS Asset Management Company Ltd Decreases Position in Genius Sports Limited $GENI

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in Genius Sports Limited (NYSE:GENI) by 27.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,811 shares of the company’s stock after selling 7,038 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Genius Sports were worth $196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GENI. Wellington Management Group LLP grew its position in shares of Genius Sports by 25.4% during the 1st quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company’s stock worth $102,547,000 after buying an additional 2,076,590 shares in the last quarter. Voss Capital LP boosted its position in shares of Genius Sports by 17.0% in the 1st quarter. Voss Capital LP now owns 9,269,519 shares of the company’s stock worth $92,788,000 after purchasing an additional 1,346,087 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Genius Sports in the 1st quarter worth $28,280,000. Voya Investment Management LLC boosted its position in shares of Genius Sports by 20.1% in the 1st quarter. Voya Investment Management LLC now owns 2,781,888 shares of the company’s stock worth $27,847,000 after purchasing an additional 465,862 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Genius Sports by 1,579.0% in the 1st quarter. Millennium Management LLC now owns 2,766,206 shares of the company’s stock worth $27,690,000 after purchasing an additional 2,601,453 shares in the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Guggenheim set a $16.00 target price on Genius Sports and gave the stock a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen lowered Genius Sports from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. The Goldman Sachs Group lifted their price target on Genius Sports from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. B. Riley lifted their price objective on Genius Sports from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Arete began coverage on Genius Sports in a report on Wednesday, July 9th. They set a “buy” rating and a $15.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Genius Sports currently has an average rating of “Buy” and a consensus price target of $14.22.

Genius Sports Price Performance

Shares of GENI opened at $12.86 on Tuesday. The firm has a 50 day simple moving average of $12.17 and a 200-day simple moving average of $10.75. Genius Sports Limited has a 1-year low of $6.72 and a 1-year high of $13.73. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -41.47 and a beta of 1.87.

Genius Sports (NYSE:GENI) last announced its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). The firm had revenue of $118.72 million for 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 firm’s revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. On average, equities analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal 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.