Northern Trust Corp Acquires 895,186 Shares of Genius Sports Limited $GENI

Key Points

• Northern Trust Corp significantly increased its holdings in Genius Sports Limited by 1,409.5% during the first quarter, acquiring an additional 895,186 shares to total 958,696 shares worth approximately $9.6 million.
• Genius Sports reported a 24.4% increase in revenue year-over-year, totaling $118.72 million, but missed earnings expectations with a loss of ($0.21) per share.
• Analysts are generally optimistic about Genius Sports, with a consensus average rating of "Buy" and a price target of $14.13, despite a recent downgrade from "hold" to "sell" by some analysts.

Northern Trust Corp increased its holdings in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 1,409.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 958,696 shares of the company's stock after purchasing an additional 895,186 shares during the period. Northern Trust Corp owned approximately 0.45% of Genius Sports worth $9,597,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Algert Global LLC acquired a new position in shares of Genius Sports during the 1st quarter worth about $2,129,000. Roubaix Capital LLC acquired a new position in Genius Sports in the 1st quarter valued at approximately $6,001,000. Raymond James Financial Inc. raised its holdings in Genius Sports by 19.0% in the 1st quarter. Raymond James Financial Inc. now owns 1,697,016 shares of the company's stock valued at $16,987,000 after acquiring an additional 271,383 shares in the last quarter. Cookson Peirce & Co. Inc. raised its holdings in Genius Sports by 4.1% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 321,100 shares of the company's stock valued at $3,214,000 after acquiring an additional 12,547 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Genius Sports by 70.0% in the 1st quarter. Russell Investments Group Ltd. now owns 683,034 shares of the company's stock valued at $6,837,000 after acquiring an additional 281,171 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Benchmark upped their price target on Genius Sports from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, August 18th. Truist Financial assumed coverage on Genius Sports in a report on Tuesday, July 1st. They issued a "buy" rating and a $14.00 price target for the company. Northland Capmk raised Genius Sports to a "strong-buy" rating in a report on Friday, July 25th. Arete assumed coverage on Genius Sports in a report on Wednesday, July 9th. They issued a "buy" rating and a $15.00 target price for the company. Finally, Macquarie increased their target price on Genius Sports from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $14.13.

Genius Sports Trading Down 5.4%

NYSE GENI traded down $0.72 during trading hours on Monday, reaching $12.78. 8,720,672 shares of the company's stock were exchanged, compared to its average volume of 4,419,135. The stock has a market cap of $2.75 billion, a PE ratio of -41.21 and a beta of 1.87. Genius Sports Limited has a one year low of $6.72 and a one year high of $13.73. The firm has a fifty day moving average of $11.70 and a 200-day moving average of $10.50.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). The business had revenue of $118.72 million for the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The firm's revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) earnings per share. As a group, research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.

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.