2,175,200 Shares in Genius Sports Limited $GENI Purchased by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 2.18 million Genius Sports shares worth approximately $9.6 million, giving it a 0.88% stake. Institutional investors collectively own 81.91% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $11.19, despite several recent target reductions.
• Genius Sports reported 30.5% year-over-year revenue growth to $187.95 million, but missed quarterly EPS expectations and continued to post negative margins. The stock opened at $7.28, versus a 52-week range of $3.83 to $13.73.

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Genius Sports Limited (NYSE:GENI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,175,200 shares of the company's stock, valued at approximately $9,636,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.88% of Genius Sports at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Genius Sports by 17.6% during the 1st quarter. Royal Bank of Canada now owns 44,339 shares of the company's stock worth $444,000 after acquiring an additional 6,623 shares during the period. Cetera Investment Advisers grew its stake in Genius Sports by 10.0% during the 2nd quarter. Cetera Investment Advisers now owns 15,288 shares of the company's stock valued at $159,000 after acquiring an additional 1,388 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Genius Sports in the 2nd quarter valued at about $266,000. Invesco Ltd. increased its holdings in shares of Genius Sports by 3,584.2% in the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company's stock valued at $34,233,000 after purchasing an additional 3,202,290 shares during the period. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Genius Sports in the second quarter worth approximately $14,220,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GENI has been the subject of several research reports. Citigroup decreased their price target on shares of Genius Sports from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 8th. The Goldman Sachs Group began coverage on shares of Genius Sports in a report on Monday. They set a "buy" rating and a $9.50 price target on the stock. Stifel Nicolaus increased their price objective on Genius Sports from $5.00 to $7.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Needham & Company LLC reduced their price objective on Genius Sports from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Finally, BTIG Research lowered their target price on Genius Sports from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $11.19.

Genius Sports Price Performance

NYSE GENI opened at $7.28 on Wednesday. Genius Sports Limited has a fifty-two week low of $3.83 and a fifty-two week high of $13.73. The stock's 50-day moving average is $6.22 and its two-hundred day moving average is $6.10. The firm has a market cap of $1.79 billion, a P/E ratio of -11.94 and a beta of 1.91.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The company had revenue of $187.95 million for the quarter, compared to the consensus estimate of $170.60 million. During the same quarter last year, the company posted ($0.03) EPS. The business's revenue was up 30.5% compared to the same quarter last year. On average, equities analysts expect that Genius Sports Limited will post -0.12 EPS for the current year.

Genius Sports Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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