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

Bank of New York Mellon Corp decreased its position in shares of Genius Sports Limited (NYSE:GENI) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,528,006 shares of the company’s stock after selling 177,817 shares during the period. Bank of New York Mellon Corp owned approximately 1.64% of Genius Sports worth $30,517,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Genius Sports by 2.9% during the third quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock valued at $65,013,000 after purchasing an additional 230,209 shares in the last quarter. Senvest Management LLC raised its position in Genius Sports by 12.2% during the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after purchasing an additional 819,385 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Genius Sports by 10.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock valued at $58,959,000 after buying an additional 691,539 shares during the last quarter. FMR LLC grew its stake in shares of Genius Sports by 53.2% during the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after buying an additional 2,507,165 shares during the last quarter. Finally, Portolan Capital Management LLC grew its stake in shares of Genius Sports by 9.4% during the third quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock valued at $24,860,000 after buying an additional 272,545 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Trading Up 2.3 %

NYSE:GENI opened at $9.73 on Friday. Genius Sports Limited has a 12 month low of $4.91 and a 12 month high of $10.33. The company has a market cap of $2.09 billion, a PE ratio of -30.42 and a beta of 2.14. The company has a 50 day simple moving average of $9.02 and a two-hundred day simple moving average of $8.46.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. B. Riley raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Genius Sports in a research note on Monday, January 27th. Lake Street Capital raised their target price on Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup raised their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Oppenheimer boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.83.

About Genius Sports

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.