Sumitomo Mitsui Trust Group Inc. Has $57.10 Million Position in Genius Sports Limited (NYSE:GENI)

Sumitomo Mitsui Trust Group Inc. lessened its position in Genius Sports Limited (NYSE:GENI - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,703,992 shares of the company's stock after selling 29,350 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 2.65% of Genius Sports worth $57,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Genius Sports in the 4th quarter worth about $12,332,000. JPMorgan Chase & Co. increased its stake in shares of Genius Sports by 138.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock valued at $14,264,000 after buying an additional 957,559 shares during the period. Nixon Capital LLC bought a new position in shares of Genius Sports during the fourth quarter worth about $8,463,000. Greenwood Capital Associates LLC acquired a new position in shares of Genius Sports in the first quarter worth approximately $518,000. Finally, Granahan Investment Management LLC lifted its stake in shares of Genius Sports by 0.8% in the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company's stock worth $68,886,000 after acquiring an additional 64,752 shares during the period. Institutional investors and hedge funds own 81.91% of the company's stock.

Genius Sports Stock Performance

Shares of GENI stock traded down $0.30 during trading hours on Tuesday, hitting $10.10. 5,922,597 shares of the company were exchanged, compared to its average volume of 3,317,453. The firm has a market cap of $2.17 billion, a P/E ratio of -53.16 and a beta of 1.87. Genius Sports Limited has a fifty-two week low of $5.29 and a fifty-two week high of $11.40. The company has a 50 day simple moving average of $10.09 and a two-hundred day simple moving average of $9.56.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $143.99 million during the quarter, compared to the consensus estimate of $143.31 million. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. The company's quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) EPS. As a group, sell-side analysts expect that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its board has initiated a stock repurchase plan on Tuesday, May 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on GENI shares. Guggenheim started coverage on shares of Genius Sports in a report on Tuesday, March 18th. They set a "buy" rating and a $12.00 price target for the company. JMP Securities increased their price objective on shares of Genius Sports from $12.00 to $13.00 and gave the stock a "market outperform" rating in a research report on Monday. Lake Street Capital lifted their target price on shares of Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a research report on Monday, April 21st. They set a "buy" rating and a $12.00 price target on the stock. Finally, Truist Financial initiated coverage on Genius Sports in a research report on Tuesday. They issued a "buy" rating and a $14.00 price objective for the company. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.46.

Genius Sports 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.