Genius Sports (NYSE:GENI) Shares Gap Up – Time to Buy?

Genius Sports Limited (NYSE:GENI) shares gapped up before the market opened on Friday. The stock had previously closed at $5.80, but opened at $6.15. Genius Sports shares last traded at $6.2550, with a volume of 1,680,897 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GENI. BTIG Research lifted their price target on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Zacks Research lowered shares of Genius Sports from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Genius Sports from a “strong sell” rating to a “sell” rating in a research note on Monday. Wells Fargo & Company restated an “equal weight” rating and set a $8.00 target price on shares of Genius Sports in a report on Friday, August 7th. Finally, Needham & Company LLC raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Genius Sports has an average rating of “Moderate Buy” and an average price target of $11.25.

Genius Sports Stock Performance

The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -9.24 and a beta of 1.88. 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 stock’s fifty day moving average is $7.20 and its two-hundred day moving average is $5.96.

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

Insider Activity

In related news, insider Thomas Russell sold 50,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $6.51, for a total value of $325,500.00. Following the completion of the transaction, the insider owned 471,467 shares of the company’s stock, valued at approximately $3,069,250.17. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Locke sold 477,449 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were 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. This trade represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 850,000 shares of company stock worth $5,582,049. Insiders own 16.60% of the company’s stock.

Institutional Trading of Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in GENI. Parallel Advisors LLC bought a new position in Genius Sports during the 1st quarter valued at $25,000. Lexington Hill Partners LLC bought a new stake in shares of Genius Sports in the 2nd quarter worth about $64,000. Clearstead Advisors LLC raised its stake in shares of Genius Sports by 74,341.2% in the 4th quarter. Clearstead Advisors LLC now owns 12,655 shares of the company’s stock valued at $139,000 after purchasing an additional 12,638 shares in the last quarter. Corient Private Wealth LP acquired a new stake in shares of Genius Sports in the 2nd quarter valued at about $83,000. Finally, Baer Investment Advisory LLC bought a new position in shares of Genius Sports during the first quarter worth about $61,000. Institutional investors own 81.91% of the company’s stock.

About Genius Sports

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.