Sumitomo Mitsui Trust Holdings Inc., a renowned financial institution, has recently made waves in the investment world by significantly increasing its holdings in Genius Sports Limited (NYSE:GENI). According to the company’s latest Form 13F filing with the Securities and Exchange Commission, Sumitomo Mitsui Trust Holdings Inc. acquired an additional 456,847 shares during the first quarter, accounting for an 8.7% increase in their overall holdings. As a result, they now own an impressive 5,701,256 shares of Genius Sports stock.
With this recent acquisition, Sumitomo Mitsui Trust Holdings Inc. now holds approximately 2.59% of Genius Sports, valued at $28,392,000 as per their most recent SEC filing. This significant investment highlights the trust and confidence that Sumitomo Mitsui Trust Holdings Inc. places in Genius Sports and its future prospects.
Genius Sports Limited, listed on the New York Stock Exchange under the symbol GENI, opened at $7.35 on Friday. The company boasts a market capitalization of $1.62 billion and operates with a beta of 1.89 – signifying its sensitivity to market fluctuations compared to a designated benchmark index.
Delving deeper into its financials, Genius Sports exhibits a negative price-to-earnings ratio (P/E) standing at -9.07 – indicative of a potential undervaluation or investor skepticism regarding the company’s profitability prospects in relation to its market value.
When considering short-term price movements over the past 50 days, Genius Sports’ stock shows encouraging resilience with a simple moving average of $6.11; meanwhile, its two-hundred day simple moving average rests at $5.09 – suggesting more stability and gradual growth over a longer period.
The historical trading range for Genius Sports spans from $2.38 (its twelve-month low) to $8.10 (its twelve-month high). This range demonstrates the company’s capacity to weather market fluctuations and potentially generate substantial returns for investors.
For those interested in exploring further details regarding hedge funds’ holdings of Genius Sports Limited, a visit to HoldingsChannel.com would prove invaluable. With the latest 13F filings and insider trades accessible through the platform, investors can gain more precise insights into the company’s current standing in the investment landscape.
Overall, Sumitomo Mitsui Trust Holdings Inc.’s recent increase in holdings has showcased their belief in the potential of Genius Sports Limited as an investment opportunity. As Genius Sports continues to evolve and capitalize on emerging trends within its industry, shareholders will likely benefit from this strategic move by Sumitomo Mitsui Trust Holdings Inc. Only time will reveal whether this decision proves lucrative for both parties involved in this intriguing transaction.
Genius Sports Limited
Updated on: 25/09/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
6:00 PM (UTC)
Date:25 September, 2023
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Promising Growth and Institutional Investments: A Look at Genius Sports Limited (NYSE:GENI)
Genius Sports Limited (NYSE:GENI) has garnered attention from various hedge funds and analysts due to its promising growth potential and innovative products and services. One notable hedge fund, Envestnet Asset Management Inc., raised its stake in the company by 37.2% in the first quarter, demonstrating confidence in Genius Sports’ future prospects. As a result, Envestnet Asset Management now owns 64,414 shares of the company’s stock, valued at $296,000 after purchasing an additional 17,455 shares during that period.
Similarly, Bank of New York Mellon Corp increased its stake in Genius Sports by 28.6% during the first quarter. The bank now holds 981,490 shares of the company’s stock, valued at $4,515,000 after acquiring an additional 218,044 shares. These moves by prominent institutional investors highlight their belief in Genius Sports’ value proposition and potential for success.
Another testament to this sentiment is US Bancorp DE’s recent acquisition of a new stake in Genius Sports during the same quarter. Valued at $69,000, this investment further bolsters the positive outlook surrounding the company. Furthermore, Bridgefront Capital LLC also entered into a position with Genius Sports in the first quarter for $65,000.
UBS Group AG rounded out this list by raising its stake in Genius Sports by 26.1% during the first quarter as well. The firm now owns 526,614 shares of the company’s stock valued at $2,422,000 after purchasing an additional 108,874 shares during that period.
Collectively, these institutional investors account for approximately 39.40% ownership of Genius Sports’ stock currently.
In addition to these hedge fund investments and acquisitions of stakes in Genius Sports Limited (NYSE:GENI), several analysts have issued encouraging reports on the company’s performance as well. Citigroup notably boosted their target price on Genius Sports from $7.00 to $9.00, reflecting a positive outlook for future growth.
JMP Securities and BTIG Research also raised their respective price targets on Genius Sports from $8.00 to $9.00, highlighting the widespread confidence in the company’s potential.
Lake Street Capital, in its recent research report, initiated coverage of Genius Sports with a “buy” rating and set a price target of $7.00 for the stock.
According to Bloomberg, the average rating for Genius Sports is “Buy,” with a consensus price target of $8.14.
For those interested in further exploring other hedge funds’ holdings of GENI, HoldingsChannel.com provides up-to-date 13F filings and insider trades regarding the company’s stock.
Genius Sports Limited (NYSE:GENI) most recently announced its earnings results on Tuesday, May 9th. Although the company reported earnings per share of ($0.12) for the quarter, falling short of analysts’ consensus estimate of ($0.08), it generated revenue totaling $97.30 million during that period—surpassing estimates by approximately $5 million.
Despite reporting negative returns on equity (-12.81%) and a negative net margin (-47.29%), Genius Sports demonstrated significant growth potential within its operations by achieving a 13.3% increase in revenue compared to the same quarter last year.
Looking ahead, research analysts anticipate that Genius Sports Limited will post EPS of -0.25 for the current fiscal year.
As an industry leader, Genius Sports Limited specializes in developing and selling technology-led products aimed at sports leagues, sports betting platforms, and sports media companies globally.
The company offers a range of services including technology infrastructure that collects and integrates live data from various sports leagues, as well as streaming solutions that provide automatic production and distribution capabilities for these leagues to commercialize video footage of their games effectively.
In addition to these offerings, Genius Sports provides end-to-end integrity services to sports leagues. This includes the use of full-time active monitoring technology, which employs mathematical algorithms to identify and flag suspicious betting activity in global markets. The company also offers a comprehensive suite of online and offline educational services and consultancy services.
As a leading player in the sports media and technology industry, Genius Sports Limited continues to expand its reach, drive innovation, and forge strategic partnerships globally. With increased attention from institutional investors and positive assessments from analysts, the company appears poised for continued growth in the coming years.