Allspring Global Investments Holdings LLC Increases Stock Holdings in Genius Sports Limited $GENI

Allspring Global Investments Holdings LLC lifted its stake in Genius Sports Limited (NYSE:GENI - Free Report) by 10.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,557,178 shares of the company's stock after purchasing an additional 339,792 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.44% of Genius Sports worth $16,150,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in shares of Genius Sports by 17.6% during the first quarter. Royal Bank of Canada now owns 44,339 shares of the company's stock worth $444,000 after buying an additional 6,623 shares during the period. Cetera Investment Advisers increased its position in shares of Genius Sports by 10.0% in 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 during the period. Prudential Financial Inc. purchased a new position in shares of Genius Sports in the second quarter worth about $266,000. Invesco Ltd. raised its stake in shares of Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company's stock worth $34,233,000 after purchasing an additional 3,202,290 shares during the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Genius Sports during the second quarter worth about $14,220,000. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Stock Down 1.1%

GENI opened at $6.68 on Wednesday. The firm's fifty day simple moving average is $6.00 and its two-hundred day simple moving average is $6.24. Genius Sports Limited has a 52-week low of $3.83 and a 52-week high of $13.73. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -10.94 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 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 analyst estimates of $170.60 million. During the same quarter last year, the company earned ($0.03) EPS. The firm's revenue for the quarter was up 30.5% on a year-over-year basis. On average, research analysts forecast that Genius Sports Limited will post -0.12 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on GENI shares. B. Riley Financial reiterated a "buy" rating on shares of Genius Sports in a report on Friday, May 8th. Wall Street Zen upgraded Genius Sports from a "strong sell" rating to a "sell" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft started coverage on Genius Sports in a report on Monday, May 11th. They issued a "buy" rating and a $10.00 price objective for the company. Wells Fargo & Company lowered their target price on Genius Sports from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, Stifel Nicolaus cut their target price on shares of Genius Sports from $7.00 to $5.00 and set a "hold" rating for the company in a report on Thursday, April 9th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.44.

About Genius Sports

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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