Genius Sports Limited $GENI Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in Genius Sports Limited (NYSE:GENI) by 45.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,686 shares of the company’s stock after selling 13,293 shares during the period. Truist Financial Corp’s holdings in Genius Sports were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake 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 purchasing an additional 2,076,590 shares during the last quarter. Voss Capital LP boosted its stake in shares of Genius Sports by 17.0% during 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 during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Genius Sports in the first quarter worth approximately $28,280,000. Voya Investment Management LLC boosted its position in shares of Genius Sports by 20.1% in the first quarter. Voya Investment Management LLC now owns 2,781,888 shares of the company’s stock worth $27,847,000 after acquiring an additional 465,862 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Genius Sports by 1,579.0% in the first quarter. Millennium Management LLC now owns 2,766,206 shares of the company’s stock worth $27,690,000 after acquiring an additional 2,601,453 shares during the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Trading Down 0.4%

Shares of NYSE:GENI opened at $11.90 on Friday. The company has a fifty day simple moving average of $12.55 and a 200 day simple moving average of $11.04. The firm has a market cap of $2.56 billion, a PE ratio of -38.39 and a beta of 1.85. Genius Sports Limited has a 12-month low of $6.72 and a 12-month high of $13.73.

Genius Sports (NYSE:GENI) last released 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). Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The business had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. During the same period in the prior year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, equities research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GENI. Arete began 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 on the stock. B. Riley raised their target price 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. JMP Securities raised their price target on shares of Genius Sports from $13.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, September 3rd. Needham & Company LLC raised their price target on shares of Genius Sports from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Benchmark raised their price target on shares of Genius Sports from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.