Genius Sports (NYSE:GENI) Stock Price Up 7.4% – Time to Buy?

Genius Sports Limited (NYSE:GENI) shares traded up 7.4% during trading on Thursday. The stock traded as high as $6.47 and last traded at $6.5840. 766,196 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 6,429,810 shares. The stock had previously closed at $6.13.

Wall Street Analyst Weigh In

GENI has been the topic of several recent analyst reports. Needham & Company LLC increased their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wall Street Zen raised shares of Genius Sports from a “strong sell” rating to a “sell” rating in a research report on Saturday. The Goldman Sachs Group restated a “buy” rating and issued a $10.50 target price on shares of Genius Sports in a report on Friday, August 7th. Zacks Research raised shares of Genius Sports from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Freedom Capital raised shares of Genius Sports to a “strong-buy” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.25.

Genius Sports Stock Performance

The stock has a market cap of $1.56 billion, a PE ratio of -9.33 and a beta of 1.91. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50-day simple moving average of $6.93 and a 200-day simple moving average of $6.11.

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). The firm 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%. The business’s revenue for the quarter was up 64.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.21) earnings per share. Equities analysts predict that Genius Sports Limited will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas Russell sold 50,000 shares of the stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Locke sold 50,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $126,713,912.64. The trade was a 0.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 850,000 shares of company stock valued at $5,582,049. Corporate insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On Genius Sports

Hedge funds have recently made changes to their positions in the business. Senvest Management LLC lifted its holdings in shares of Genius Sports by 45.1% during the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock valued at $60,486,000 after acquiring an additional 4,243,157 shares in the last quarter. Stephens Investment Management Group LLC raised its position in Genius Sports by 35.1% in the first quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock valued at $33,661,000 after purchasing an additional 1,974,043 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Genius Sports by 65.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company’s stock valued at $17,321,000 after purchasing an additional 1,549,816 shares during the period. Amova Asset Management Americas Inc. raised its position in Genius Sports by 65.7% in the first quarter. Amova Asset Management Americas Inc. now owns 3,909,945 shares of the company’s stock valued at $17,321,000 after purchasing an additional 1,549,816 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Genius Sports by 10.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,557,178 shares of the company’s stock worth $16,150,000 after purchasing an additional 339,792 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

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.