Nikko Asset Management Americas Inc. Sells 944,357 Shares of Genius Sports Limited (NYSE:GENI)

Nikko Asset Management Americas Inc. trimmed its holdings in shares of Genius Sports Limited (NYSE:GENI) by 14.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,733,342 shares of the company’s stock after selling 944,357 shares during the quarter. Nikko Asset Management Americas Inc. owned 2.66% of Genius Sports worth $49,593,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wilson Asset Management International PTY Ltd. grew its holdings in Genius Sports by 11.3% during the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 840,394 shares of the company’s stock worth $7,269,000 after acquiring an additional 85,638 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Genius Sports by 66.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,430 shares of the company’s stock valued at $324,000 after purchasing an additional 14,965 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Genius Sports in the 4th quarter valued at $12,332,000. Aigen Investment Management LP bought a new stake in shares of Genius Sports in the 4th quarter valued at $163,000. Finally, M&T Bank Corp boosted its stake in shares of Genius Sports by 20.4% in the 4th quarter. M&T Bank Corp now owns 164,437 shares of the company’s stock valued at $1,422,000 after purchasing an additional 27,901 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

Genius Sports Trading Up 0.4 %

GENI opened at $9.19 on Monday. The company’s fifty day moving average price is $9.08 and its two-hundred day moving average price is $8.52. Genius Sports Limited has a 1-year low of $4.91 and a 1-year high of $10.33. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -28.70 and a beta of 2.14.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $175.52 million. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, equities analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GENI. Lake Street Capital upped their price objective on shares of Genius Sports from $10.50 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group upped their price objective on shares of Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a research note 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. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price objective on shares of Genius Sports in a research note on Monday, January 27th. Finally, Craig Hallum set a $15.00 target price on shares of Genius Sports in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.25.

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.