Bank of New York Mellon Corp Sells 177,817 Shares of Genius Sports Limited (NYSE:GENI)

Bank of New York Mellon Corp lowered its position in Genius Sports Limited (NYSE:GENI) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,528,006 shares of the company’s stock after selling 177,817 shares during the period. Bank of New York Mellon Corp’s holdings in Genius Sports were worth $30,517,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in Genius Sports in the 3rd quarter worth $84,000. Walleye Trading LLC boosted its holdings in Genius Sports by 169.9% in the 3rd quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock worth $95,000 after buying an additional 29,555 shares during the period. Perigon Wealth Management LLC bought a new position in Genius Sports in the 4th quarter worth $136,000. Canton Hathaway LLC bought a new position in Genius Sports in the 3rd quarter worth $161,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Genius Sports by 26.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,535 shares of the company’s stock worth $204,000 after buying an additional 4,873 shares during the period. Institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GENI. Oppenheimer upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Macquarie boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. B. Riley boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price target on shares of Genius Sports in a research note on Tuesday, March 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $11.00 price target on shares of Genius Sports in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Genius Sports currently has a consensus rating of “Moderate Buy” and an average target price of $11.83.

Genius Sports Trading Up 2.3 %

Shares of NYSE GENI opened at $9.73 on Friday. The firm’s 50-day moving average price is $9.02 and its 200-day moving average price is $8.46. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -30.42 and a beta of 2.14. Genius Sports Limited has a 12-month low of $4.91 and a 12-month high of $10.33.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). The business had revenue of $175.53 million for the quarter, compared to analysts’ expectations of $175.52 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same quarter in the prior year, the company posted ($0.10) earnings per share. On average, equities analysts predict that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

About Genius Sports

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.