State Street Corp Purchases 95,642 Shares of Genius Sports Limited (NYSE:GENI)

State Street Corp increased its holdings in Genius Sports Limited (NYSE:GENI) by 237.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 135,859 shares of the company’s stock after buying an additional 95,642 shares during the period. State Street Corp’s holdings in Genius Sports were worth $1,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Roubaix Capital LLC grew its stake in Genius Sports by 16.4% in the 2nd quarter. Roubaix Capital LLC now owns 869,110 shares of the company’s stock valued at $4,737,000 after purchasing an additional 122,544 shares during the period. Koss Olinger Consulting LLC bought a new position in Genius Sports during the second quarter valued at about $64,000. Rice Hall James & Associates LLC purchased a new stake in Genius Sports during the second quarter worth about $5,521,000. Massachusetts Financial Services Co. MA raised its position in Genius Sports by 28.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after acquiring an additional 1,502,958 shares during the period. Finally, Renaissance Technologies LLC raised its position in Genius Sports by 9.4% in the second quarter. Renaissance Technologies LLC now owns 390,000 shares of the company’s stock worth $2,126,000 after acquiring an additional 33,522 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Stock Performance

NYSE:GENI opened at $8.50 on Friday. The business’s fifty day moving average is $8.73 and its 200 day moving average is $7.50. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -26.56 and a beta of 2.12. Genius Sports Limited has a 52-week low of $4.91 and a 52-week high of $10.33.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. Equities analysts predict that Genius Sports Limited will post -0.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on GENI. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research note on Tuesday, November 12th. The Goldman Sachs Group increased their price objective on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark boosted their target price on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer increased their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Macquarie boosted their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $10.72.

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.