M&T Bank Corp trimmed its position in Genius Sports Limited (NYSE:GENI - Free Report) by 91.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,732 shares of the company's stock after selling 149,705 shares during the quarter. M&T Bank Corp's holdings in Genius Sports were worth $147,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Genius Sports by 138.5% during 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. Allspring Global Investments Holdings LLC raised its position in Genius Sports by 62.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company's stock valued at $21,683,000 after acquiring an additional 833,335 shares in the last quarter. D.A. Davidson & CO. raised its position in Genius Sports by 67.0% during the first quarter. D.A. Davidson & CO. now owns 89,551 shares of the company's stock valued at $896,000 after acquiring an additional 35,943 shares in the last quarter. Nixon Capital LLC acquired a new position in shares of Genius Sports during the 4th quarter worth approximately $8,463,000. Finally, Greenwood Capital Associates LLC purchased a new stake in shares of Genius Sports during the first quarter worth approximately $518,000. 81.91% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on GENI shares. JMP Securities set a $13.00 price target on shares of Genius Sports and gave the company a "market outperform" rating in a report on Monday, June 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Genius Sports in a research report on Monday, April 21st. They issued a "buy" rating and a $12.00 target price for the company. Benchmark reaffirmed a "buy" rating and issued a $12.00 price target on shares of Genius Sports in a research report on Thursday, April 17th. Arete Research raised Genius Sports to a "strong-buy" rating in a report on Wednesday, July 9th. Finally, Arete initiated coverage on shares of Genius Sports in a research report on Wednesday, July 9th. They set a "buy" rating and a $15.00 target price for the company. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $12.63.
Get Our Latest Stock Report on GENI
Genius Sports Stock Performance
Shares of NYSE GENI traded up $0.49 during trading on Friday, hitting $11.36. 9,250,110 shares of the company were exchanged, compared to its average volume of 3,434,327. The firm has a market capitalization of $2.45 billion, a PE ratio of -59.79 and a beta of 1.86. Genius Sports Limited has a 12-month low of $5.76 and a 12-month high of $11.56. The company has a fifty day moving average price of $10.03 and a 200-day moving average price of $9.71.
Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The business had revenue of $143.99 million during the quarter, compared to analysts' expectations of $143.31 million. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. The business's revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) earnings per share. Research analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.
Genius Sports declared that its Board of Directors has initiated a share buyback program on Tuesday, May 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.
Genius Sports Company Profile
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Free Report)
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.
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