Levin Capital Strategies L.P. Reduces Stake in Genius Sports Limited (NYSE:GENI)

Levin Capital Strategies L.P. cut its holdings in shares of Genius Sports Limited (NYSE:GENI) by 57.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,000 shares of the company’s stock after selling 20,000 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Genius Sports were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GENI. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Genius Sports by 42.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock worth $98,000 after acquiring an additional 5,342 shares during the period. Koss Olinger Consulting LLC acquired a new stake in shares of Genius Sports during the 2nd quarter worth approximately $64,000. Brown Advisory Inc. acquired a new position in shares of Genius Sports in the 4th quarter valued at $76,000. Virtu Financial LLC purchased a new stake in Genius Sports during the first quarter worth $94,000. Finally, Victory Capital Management Inc. acquired a new stake in Genius Sports during the fourth quarter valued at $105,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Stock Performance

Shares of GENI stock opened at $7.43 on Wednesday. Genius Sports Limited has a fifty-two week low of $4.62 and a fifty-two week high of $8.15. The stock’s fifty day moving average is $6.73 and its two-hundred day moving average is $5.98. The firm has a market capitalization of $1.70 billion, a P/E ratio of -19.04 and a beta of 1.96.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The business had revenue of $95.50 million during the quarter, compared to analysts’ expectations of $94.15 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts forecast that Genius Sports Limited will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

GENI has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research report on Tuesday, August 6th. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Genius Sports in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup initiated coverage on Genius Sports in a research report on Thursday, June 13th. They set a “buy” rating and a $9.00 target price on the stock. Finally, Macquarie cut their price target on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports currently has an average rating of “Buy” and an average target price of $9.45.

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.