Massachusetts Financial Services Co. MA Sells 725,462 Shares of Genius Sports Limited $GENI

Massachusetts Financial Services Co. MA lowered its position in shares of Genius Sports Limited (NYSE:GENI) by 14.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,182,281 shares of the company’s stock after selling 725,462 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Genius Sports were worth $46,089,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in Genius Sports during the third quarter worth about $65,000. Strs Ohio lifted its holdings in shares of Genius Sports by 178.9% in the 3rd quarter. Strs Ohio now owns 5,300 shares of the company’s stock worth $66,000 after acquiring an additional 3,400 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Genius Sports by 1,163.1% in the 3rd quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock worth $87,000 after acquiring an additional 6,455 shares during the last quarter. CWM LLC lifted its holdings in shares of Genius Sports by 106.3% in the 3rd quarter. CWM LLC now owns 8,209 shares of the company’s stock worth $102,000 after acquiring an additional 4,229 shares during the last quarter. Finally, Victory Financial Group LLC bought a new stake in shares of Genius Sports in the 4th quarter worth approximately $113,000. Institutional investors own 81.91% of the company’s stock.

Genius Sports Stock Up 3.4%

NYSE:GENI opened at $4.28 on Wednesday. The company has a fifty day moving average of $5.34 and a 200 day moving average of $8.79. Genius Sports Limited has a 52 week low of $3.83 and a 52 week high of $13.73. The firm has a market capitalization of $1.05 billion, a P/E ratio of -9.95 and a beta of 2.08.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The firm had revenue of $240.50 million for the quarter, compared to the consensus estimate of $234.94 million. During the same quarter in the prior year, the company earned ($0.12) earnings per share. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. As a group, analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC lowered their price objective on shares of Genius Sports from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Stifel Nicolaus lowered their target price on Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. BTIG Research lowered their target price on Genius Sports from $16.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Northland Securities set a $12.00 target price on Genius Sports in a research note on Friday, February 6th. Finally, Wells Fargo & Company lowered their target price on Genius Sports from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.63.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.