Genius Sports (NYSE:GENI) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Genius Sports (NYSE:GENI) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday,Wall Street Zen reports.

Several other equities analysts have also weighed in on GENI. Guggenheim lifted their price objective on Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup reiterated a “market outperform” rating on shares of Genius Sports in a research note on Tuesday, September 8th. 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. The Goldman Sachs Group reaffirmed a “buy” rating and set a $10.50 price target on shares of Genius Sports in a research report on Friday, August 7th. Finally, Roth Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Genius Sports in a 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Genius Sports has an average rating of “Moderate Buy” and an average price target of $11.25.

Genius Sports Stock Performance

NYSE:GENI opened at $5.67 on Tuesday. The company has a market cap of $1.40 billion, a P/E ratio of -8.35 and a beta of 1.92. The firm’s 50 day moving average is $7.15 and its two-hundred day moving average is $5.99. Genius Sports has a fifty-two week low of $3.83 and a fifty-two week high of $12.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10.

Genius Sports (NYSE:GENI) last released 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). Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The firm had revenue of $195.50 million for the quarter, compared to analyst estimates of $184.43 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The company’s quarterly revenue was up 64.7% on a year-over-year basis. Analysts expect that Genius Sports will post -0.35 EPS for the current year.

Insider Buying and Selling

In other news, insider Thomas Russell sold 50,000 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the insider directly owned 471,467 shares of the company’s stock, valued at approximately $3,069,250.17. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Locke 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 $6.54, for a total transaction of $327,000.00. Following the completion of the transaction, the chief executive officer owned 19,375,216 shares of the company’s stock, valued at $126,713,912.64. This trade represents a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 850,000 shares of company stock worth $5,582,049 in the last quarter. Insiders own 16.60% of the company’s stock.

Institutional Trading of Genius Sports

Several large investors have recently modified their holdings of GENI. Parallel Advisors LLC acquired a new position in shares of Genius Sports in the first quarter worth about $25,000. Baer Investment Advisory LLC acquired a new stake in Genius Sports during the 1st quarter valued at approximately $61,000. Lexington Hill Partners LLC acquired a new stake in Genius Sports during the 2nd quarter valued at approximately $64,000. Pacer Advisors Inc. increased its holdings in Genius Sports by 29.1% during the 1st quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock worth $68,000 after purchasing an additional 3,440 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Genius Sports by 24.1% during the 1st quarter. Principal Financial Group Inc. now owns 16,038 shares of the company’s stock worth $71,000 after purchasing an additional 3,114 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

Genius Sports Limited is a sports data, technology and media company that provides services to sports leagues, federations, teams, betting operators, broadcasters and brands. The company collects, manages and distributes official sports data, including live scores, statistics, schedules and related content, to support digital products, broadcasts and sports betting applications.

Its offerings include live data and odds solutions for betting operators, sports video and streaming services, fan-engagement tools, digital marketing and advertising technology, and sports integrity services designed to help organizations monitor competitions and protect against certain forms of betting-related misconduct.