NewEdge Wealth LLC Acquires Shares of 10,000 Genius Sports Limited (NYSE:GENI)

NewEdge Wealth LLC acquired a new stake in shares of Genius Sports Limited (NYSE:GENI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Genius Sports by 26.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,047,580 shares of the company’s stock valued at $37,564,000 after buying an additional 1,491,777 shares during the period. ARK Investment Management LLC lifted its position in Genius Sports by 9.9% during the fourth quarter. ARK Investment Management LLC now owns 6,914,013 shares of the company’s stock valued at $42,729,000 after buying an additional 620,472 shares during the period. BlackRock Inc. lifted its position in Genius Sports by 3.5% during the second quarter. BlackRock Inc. now owns 5,179,581 shares of the company’s stock valued at $32,062,000 after buying an additional 176,743 shares during the period. Senvest Management LLC lifted its position in Genius Sports by 591.9% during the third quarter. Senvest Management LLC now owns 4,520,171 shares of the company’s stock valued at $24,093,000 after buying an additional 3,866,827 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Genius Sports by 14.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,431,110 shares of the company’s stock valued at $23,618,000 after buying an additional 559,399 shares during the period. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GENI shares. JMP Securities reissued a “market outperform” rating and set a $8.00 price objective on shares of Genius Sports in a research report on Thursday, March 7th. Macquarie started coverage on Genius Sports in a research report on Thursday, December 21st. They issued an “outperform” rating and a $11.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.00 price target on shares of Genius Sports in a research report on Monday, February 26th. The Goldman Sachs Group started coverage on Genius Sports in a research report on Tuesday. They issued a “buy” rating and a $7.50 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $10.00 price target on shares of Genius Sports in a research report on Thursday, March 7th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $9.25.

Genius Sports Stock Performance

NYSE GENI opened at $5.12 on Friday. Genius Sports Limited has a one year low of $3.55 and a one year high of $8.45. The stock has a 50-day moving average of $6.24 and a 200 day moving average of $5.87. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -12.79 and a beta of 1.96.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $126.53 million. Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, equities analysts predict that Genius Sports Limited will post -0.13 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.