Genius Sports Limited (NYSE:GENI) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC grew its position in Genius Sports Limited (NYSE:GENI) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159,465 shares of the company’s stock after purchasing an additional 50,482 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.50% of Genius Sports worth $6,621,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Nikko Asset Management Americas Inc. lifted its stake in shares of Genius Sports by 25.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after purchasing an additional 1,702,602 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Genius Sports by 25.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after purchasing an additional 1,702,602 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Genius Sports by 383.6% during the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after buying an additional 5,772,540 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Genius Sports by 20.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,351,090 shares of the company’s stock worth $33,070,000 after purchasing an additional 919,980 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd purchased a new stake in Genius Sports during the 4th quarter worth approximately $21,961,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GENI. The Goldman Sachs Group began coverage on Genius Sports in a report on Tuesday, April 16th. They set a “buy” rating and a $7.50 price objective on the stock. Citigroup started coverage on Genius Sports in a research report on Thursday, June 13th. They set a “buy” rating and a $9.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research report on Thursday, July 11th. Oppenheimer restated an “outperform” rating and set a $10.00 price objective on shares of Genius Sports in a research report on Thursday, April 4th. Finally, Macquarie reduced their price objective on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $9.18.

Genius Sports Stock Down 2.9 %

GENI stock traded down $0.20 during trading on Tuesday, reaching $6.61. 1,522,432 shares of the company’s stock were exchanged, compared to its average volume of 2,133,066. Genius Sports Limited has a 1-year low of $4.62 and a 1-year high of $8.45. The company’s fifty day moving average price is $5.55 and its 200-day moving average price is $5.89. The firm has a market cap of $1.52 billion, a PE ratio of -17.13 and a beta of 1.96.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. The business had revenue of $119.72 million for the quarter, compared to analyst estimates of $116.53 million. During the same quarter last year, the firm posted ($0.12) EPS. The company’s revenue was up 23.1% compared to the same quarter last year. As a group, sell-side analysts expect that Genius Sports Limited will post -0.17 earnings per share for the current fiscal 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.