Genius Sports (NYSE:GENI) Shares Down 6% on Analyst Downgrade

Genius Sports Limited (NYSE:GENI) traded down 6% on Wednesday after Wall Street Zen downgraded the stock from a sell rating to a strong sell rating. The company traded as low as $5.81 and last traded at $5.7970. 3,698,875 shares were traded during trading, a decline of 42% from the average daily volume of 6,385,310 shares. The stock had previously closed at $6.17.

Other equities research analysts have also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating on shares of Genius Sports in a research report on Friday, August 28th. The Goldman Sachs Group restated a “buy” rating and set a $10.50 target price on shares of Genius Sports in a report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating and set a $12.00 target price on shares of Genius Sports in a research report on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of Genius Sports in a research report on Tuesday, September 8th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $8.00 price objective on shares of Genius Sports in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.25.

Insider Activity

In other Genius Sports news, insider Thomas Russell sold 50,000 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the sale, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Locke sold 50,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $6.54, for a total value of $327,000.00. Following the sale, the chief executive officer directly owned 19,375,216 shares in the company, valued at $126,713,912.64. This represents a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 850,000 shares of company stock worth $5,582,049. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On Genius Sports

Institutional investors have recently modified their holdings of the business. Senvest Management LLC raised its holdings in Genius Sports by 45.1% in the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after purchasing an additional 4,243,157 shares during the period. Voss Capital LP increased its position in shares of 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 buying an additional 2,900,000 shares in the last quarter. WCM Investment Management LLC increased its position in shares of Genius Sports by 510.9% in the first quarter. WCM Investment Management LLC now owns 2,917,437 shares of the company’s stock valued at $12,370,000 after buying an additional 2,439,890 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Genius Sports during the 1st quarter worth approximately $9,636,000. Finally, Stephens Investment Management Group LLC lifted its position in shares of Genius Sports by 35.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock valued at $33,661,000 after buying an additional 1,974,043 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Stock Down 6.1%

The business’s 50 day moving average is $7.18 and its 200-day moving average is $5.98. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -8.55 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.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.21). The company had revenue of $195.50 million during the quarter, compared to analysts’ expectations of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.Genius Sports’s revenue was up 64.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) EPS. On average, sell-side analysts predict that Genius Sports Limited will post -0.35 EPS for the current fiscal year.

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.