Massachusetts Financial Services Co. MA Trims Stock Position in Genius Sports Limited (NYSE:GENI)

Massachusetts Financial Services Co. MA trimmed its holdings in Genius Sports Limited (NYSE:GENI) by 17.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,231,053 shares of the company’s stock after selling 1,289,289 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Genius Sports were worth $53,899,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Genius Sports by 53.2% in the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after purchasing an additional 2,507,165 shares during the last quarter. Walleye Trading LLC raised 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 valued at $95,000 after buying an additional 29,555 shares during the period. Captrust Financial Advisors acquired a new position in Genius Sports in the third quarter valued at about $84,000. Verition Fund Management LLC purchased a new position in Genius Sports during the third quarter worth about $1,126,000. Finally, Centiva Capital LP increased its position in shares of Genius Sports by 59.6% during the third quarter. Centiva Capital LP now owns 42,011 shares of the company’s stock valued at $329,000 after acquiring an additional 15,681 shares during the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Genius Sports Stock Down 7.2 %

GENI stock opened at $8.81 on Friday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -27.52 and a beta of 1.98. Genius Sports Limited has a fifty-two week low of $4.91 and a fifty-two week high of $11.16. The business has a 50 day moving average price of $9.45 and a 200 day moving average price of $8.78.

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 analysts’ consensus estimates of $0.04 by ($0.16). Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business had revenue of $175.53 million for the quarter, compared to analysts’ expectations of $175.52 million. During the same quarter last year, the business posted ($0.10) earnings per share. As a group, sell-side analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GENI. Lake Street Capital increased their price objective on shares of Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Needham & Company LLC set a $13.00 price objective on shares of Genius Sports in a research note on Wednesday, March 5th. Craig Hallum set a $15.00 price target on shares of Genius Sports in a research note on Tuesday, March 4th. Citizens Jmp cut Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group upped their price target on Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.23.

Genius Sports Company 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.