Wellington Management Group LLP Trims Stock Holdings in Genius Sports Limited (NYSE:GENI)

Wellington Management Group LLP reduced its stake in shares of Genius Sports Limited (NYSE:GENI) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,167,844 shares of the company’s stock after selling 124,677 shares during the period. Wellington Management Group LLP owned 3.79% of Genius Sports worth $70,652,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GENI. FMR LLC boosted its stake in shares of Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after acquiring an additional 2,507,165 shares during the period. Loomis Sayles & Co. L P bought a new position in Genius Sports in the 4th quarter worth approximately $15,553,000. Raymond James Financial Inc. purchased a new stake in Genius Sports during the 4th quarter valued at approximately $12,332,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $11,292,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Genius Sports by 138.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company’s stock worth $14,264,000 after buying an additional 957,559 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citizens Jmp downgraded Genius Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and issued a $11.00 price objective on shares of Genius Sports in a research note on Monday, January 27th. Needham & Company LLC set a $13.00 target price on shares of Genius Sports in a research report on Wednesday, March 5th. Craig Hallum set a $15.00 price target on Genius Sports in a research report on Tuesday, March 4th. Finally, Lake Street Capital upped their price objective on Genius Sports from $10.50 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Genius Sports currently has an average rating of “Moderate Buy” and an average target price of $12.23.

Genius Sports Stock Performance

Genius Sports stock opened at $8.81 on Friday. The stock has a market capitalization of $1.90 billion, a P/E ratio of -27.52 and a beta of 2.14. The company’s fifty day moving average price is $9.45 and its 200 day moving average price is $8.78. Genius Sports Limited has a 1 year low of $4.91 and a 1 year high of $11.16.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The firm had revenue of $175.53 million for the quarter, compared to analyst estimates 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 period in the previous year, the company earned ($0.10) EPS. Sell-side analysts predict that Genius Sports Limited will post -0.1 EPS for the current 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.