Genius Sports (NYSE:GENI) Stock Rating Upgraded by Wall Street Zen

Genius Sports (NYSE:GENI) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Monday, Wall Street Zen reports.

A number of other equities analysts have also recently commented on the company. Roth Capital restated a “buy” rating and set a $12.00 target price on shares of Genius Sports in a report on Friday, August 7th. Zacks Research lowered shares of Genius Sports from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Stifel Nicolaus increased their price target on shares of Genius Sports from $5.00 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group reissued a “buy” rating and set a $10.50 price target on shares of Genius Sports in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.44.

Genius Sports Stock Up 5.3%

Genius Sports stock opened at $6.07 on Monday. Genius Sports has a fifty-two week low of $3.83 and a fifty-two week high of $13.69. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a 50 day moving average price of $7.22 and a 200 day moving average price of $5.96. The company has a market capitalization of $1.49 billion, a PE ratio of -8.92 and a beta of 1.88.

Genius Sports (NYSE:GENI) last announced its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The firm had revenue of $195.50 million during the quarter, compared to analysts’ expectations of $184.43 million. During the same period in the previous year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 64.7% compared to the same quarter last year. Research analysts expect that Genius Sports will post -0.35 earnings per share for the current year.

Insider Activity

In other news, insider Thomas Russell sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the sale, the insider owned 471,467 shares of the company’s stock, valued at approximately $3,069,250.17. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Locke sold 477,449 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $6.58, for a total value of $3,141,614.42. Following the sale, the chief executive officer owned 19,697,767 shares of the company’s stock, valued at approximately $129,611,306.86. The trade was a 2.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 850,000 shares of company stock valued at $5,582,049. Insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in Genius Sports by 11.0% in the second quarter. Wellington Management Group LLP now owns 1,714,882 shares of the company’s stock valued at $10,392,000 after buying an additional 169,398 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new position in Genius Sports in the first quarter valued at $1,772,000. Renaissance Technologies LLC raised its holdings in shares of Genius Sports by 277.0% in the first quarter. Renaissance Technologies LLC now owns 2,197,700 shares of the company’s stock valued at $9,736,000 after buying an additional 1,614,700 shares during the last quarter. IFC Advisors LLC boosted its stake in shares of Genius Sports by 23.2% during the first quarter. IFC Advisors LLC now owns 3,583,833 shares of the company’s stock worth $15,876,000 after buying an additional 676,034 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Genius Sports by 65.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company’s stock worth $17,321,000 after buying an additional 1,549,816 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Genius Sports Company Profile

Genius Sports Limited (NYSE:GENI) is a sports technology and data company that provides official sports data, technology, and digital services to sports leagues, federations, teams, broadcasters, sportsbooks, and brands. Its platforms help clients collect, manage, distribute, and commercialize live sports information across digital channels.

The company’s offerings include live scores and statistics, data feeds for sports betting, fan-engagement tools, video streaming and content services, and advertising and sponsorship technology.