Sumitomo Mitsui Trust Group Inc. Sells 944,357 Shares of Genius Sports Limited (NYSE:GENI)

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Genius Sports Limited (NYSE:GENI) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,733,342 shares of the company’s stock after selling 944,357 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Genius Sports were worth $49,593,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GENI. Sound Income Strategies LLC bought a new stake in shares of Genius Sports in the 3rd quarter valued at about $78,000. Arkadios Wealth Advisors acquired a new position in Genius Sports during the third quarter worth approximately $79,000. Fullcircle Wealth LLC acquired a new position in Genius Sports during the third quarter worth approximately $118,000. Harbor Capital Advisors Inc. bought a new stake in Genius Sports in the third quarter valued at approximately $2,465,000. Finally, Olympiad Research LP acquired a new stake in shares of Genius Sports in the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Trading Up 1.0 %

Shares of GENI opened at $9.18 on Tuesday. The stock has a market capitalization of $1.97 billion, a PE ratio of -28.67 and a beta of 2.15. The firm’s 50 day moving average is $9.00 and its 200-day moving average is $8.15. Genius Sports Limited has a 12 month low of $4.91 and a 12 month high of $10.33.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. Equities research analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GENI. B. Riley increased their price target on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citizens Jmp cut shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 target price on shares of Genius Sports in a report on Monday, January 27th. Benchmark increased their price target on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup upped their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Genius Sports has an average rating of “Moderate Buy” and a consensus target price of $11.28.

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.