M&T Bank Corp Purchases 48,306 Shares of Genius Sports Limited (NYSE:GENI)

M&T Bank Corp increased its position in shares of Genius Sports Limited (NYSE:GENI) by 54.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,536 shares of the company’s stock after purchasing an additional 48,306 shares during the period. M&T Bank Corp owned about 0.06% of Genius Sports worth $1,070,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FMR LLC increased its holdings in 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 buying an additional 2,507,165 shares during the period. Divisadero Street Capital Management LP acquired a new stake in shares of Genius Sports during the 2nd quarter valued at about $11,233,000. Massachusetts Financial Services Co. MA increased its stake in Genius Sports by 28.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after acquiring an additional 1,502,958 shares during the period. Bank of Montreal Can acquired a new position in Genius Sports in the second quarter worth about $6,575,000. Finally, Rice Hall James & Associates LLC bought a new position in Genius Sports during the second quarter worth about $5,521,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Trading Up 0.2 %

GENI opened at $9.15 on Monday. Genius Sports Limited has a 1-year low of $4.91 and a 1-year high of $10.33. The stock has a market capitalization of $2.10 billion, a PE ratio of -28.59 and a beta of 2.12. The firm has a 50-day moving average price of $8.35 and a two-hundred day moving average price of $7.19.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. During the same quarter last year, the business posted ($0.06) earnings per share. Genius Sports’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, research analysts predict that Genius Sports Limited will post -0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Benchmark upped their price objective on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research report on Tuesday, November 12th. Oppenheimer increased their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their target price on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Macquarie increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Genius Sports currently has a consensus rating of “Buy” and an average price target of $10.72.

Genius Sports 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.