Bank of New York Mellon Corp Purchases 201,002 Shares of Genius Sports Limited $GENI

Key Points

• Bank of New York Mellon increased its Genius Sports stake by 9.8% in the first quarter, purchasing 201,002 shares and bringing its total holdings to 2.25 million shares valued at approximately $10 million.
• Several other institutional investors also expanded their positions, and institutional ownership reached 81.91% of Genius Sports’ outstanding stock.
• Genius Sports reported strong 30.5% year-over-year revenue growth to $187.95 million but missed earnings expectations, posting a loss of $0.21 per share. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $11.14.

Bank of New York Mellon Corp increased its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,254,853 shares of the company's stock after buying an additional 201,002 shares during the quarter. Bank of New York Mellon Corp owned about 0.92% of Genius Sports worth $9,989,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Genius Sports by 24.1% during the first quarter. Principal Financial Group Inc. now owns 16,038 shares of the company's stock worth $71,000 after purchasing an additional 3,114 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in Genius Sports in the 1st quarter valued at $192,000. IFC Advisors LLC grew its position in Genius Sports by 23.2% in the 1st quarter. IFC Advisors LLC now owns 3,583,833 shares of the company's stock valued at $15,876,000 after purchasing an additional 676,034 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Genius Sports by 65.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company's stock valued at $17,321,000 after purchasing an additional 1,549,816 shares in the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in Genius Sports by 53.8% during the 1st quarter. Greenwood Capital Associates LLC now owns 75,587 shares of the company's stock valued at $335,000 after purchasing an additional 26,446 shares in the last quarter. Institutional investors own 81.91% of the company's stock.

Genius Sports Stock Performance

Shares of NYSE:GENI opened at $6.93 on Friday. The company has a market capitalization of $1.71 billion, a P/E ratio of -11.36 and a beta of 1.91. The company's 50-day moving average is $6.34 and its 200 day moving average is $6.05. Genius Sports Limited has a fifty-two week low of $3.83 and a fifty-two week high of $13.73.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on GENI. Wells Fargo & Company dropped their price objective on shares of Genius Sports from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Monday, July 20th. Needham & Company LLC decreased their price objective on Genius Sports from $14.00 to $10.00 and set a "buy" rating for the company in a report on Friday, May 8th. Stifel Nicolaus raised their target price on Genius Sports from $5.00 to $7.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. Weiss Ratings downgraded Genius Sports from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Genius Sports in a research report on Monday, May 11th. They issued a "buy" rating and a $10.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, thirteen 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.14.

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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