Genius Sports (NYSE:GENI) Trading 14% Higher After Analyst Upgrade

Genius Sports Limited (NYSE:GENI)’s share price shot up 14% during trading on Tuesday after Wall Street Zen upgraded the stock from a strong sell rating to a sell rating. The stock traded as high as $7.86 and last traded at $8.0590. Approximately 7,805,417 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 6,276,399 shares. The stock had previously closed at $7.07.

Several other research analysts have also recently weighed in on the company. The Goldman Sachs Group assumed coverage on Genius Sports in a research report on Monday, July 27th. They set a “buy” rating and a $9.50 price objective on the stock. Needham & Company LLC decreased their price target on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Truist Financial dropped their price objective on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Company cut their price objective on shares of Genius Sports from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, July 20th. Finally, BTIG Research lowered their target price on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Genius Sports has a consensus rating of “Moderate Buy” and a consensus price target of $11.14.

Institutional Trading of Genius Sports

A number of institutional investors and hedge funds have recently made changes to their positions in GENI. TimesSquare Capital Management LLC acquired a new position in shares of Genius Sports during the 4th quarter worth $59,851,000. Senvest Management LLC boosted its stake in Genius Sports by 45.1% in the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock valued at $60,486,000 after buying an additional 4,243,157 shares in the last quarter. Invesco Ltd. boosted its stake in Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after buying an additional 3,202,290 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Genius Sports by 785.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company’s stock valued at $36,248,000 after acquiring an additional 2,917,830 shares during the last quarter. Finally, Voss Capital LP grew its position in Genius Sports by 35.4% in the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock valued at $122,322,000 after acquiring an additional 2,900,000 shares during the last quarter. Institutional investors own 81.91% of the company’s stock.

Genius Sports Stock Up 13.9%

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -13.22 and a beta of 1.90. The company has a 50 day simple moving average of $6.38 and a 200 day simple moving average of $6.00.

Genius Sports (NYSE:GENI) last posted its earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The company had revenue of $187.95 million during the quarter, compared to the consensus estimate of $170.60 million. During the same period last year, the company posted ($0.03) EPS. The firm’s revenue was up 30.5% compared to the same quarter last year. As a group, analysts predict that Genius Sports Limited will post -0.12 earnings per share for the current fiscal year.

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.