Genius Sports (NYSE:GENI) Trading Down 4.3% – What’s Next?

Genius Sports Limited (NYSE:GENI) shares dropped 4.3% on Wednesday . The stock traded as low as $6.49 and last traded at $6.5720. Approximately 3,163,495 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 6,295,694 shares. The stock had previously closed at $6.87.

Analyst Ratings Changes

GENI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research note on Monday, May 11th. They issued a “buy” rating and a $10.00 target price for the company. BTIG Research reduced their target price on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Needham & Company LLC reduced their price objective on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, May 8th. UBS Group reaffirmed a “buy” rating on shares of Genius Sports in a research note on Wednesday, March 4th. Finally, Citigroup reduced their price objective on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.68.

Genius Sports Price Performance

The firm’s 50 day moving average is $5.09 and its 200 day moving average is $7.03. The company has a market cap of $1.57 billion, a PE ratio of -10.48 and a beta of 1.90.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The firm had revenue of $187.95 million for the quarter, compared to analysts’ expectations of $170.60 million. During the same period in the prior year, the firm posted ($0.03) EPS. Genius Sports’s revenue was up 30.5% on a year-over-year basis. As a group, analysts anticipate that Genius Sports Limited will post -0.12 EPS for the current year.

Institutional Trading of Genius Sports

A number of hedge funds have recently made changes to their positions in the stock. 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 worth $60,486,000 after acquiring an additional 4,243,157 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Genius Sports by 17.9% during the 3rd quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock worth $167,298,000 after acquiring an additional 2,051,503 shares during the last quarter. Voss Capital LP lifted its holdings in shares of Genius Sports by 35.4% during the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock worth $122,322,000 after acquiring an additional 2,900,000 shares during the last quarter. Stephens Investment Management Group LLC lifted its holdings 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 worth $33,661,000 after acquiring an additional 1,974,043 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Genius Sports by 1.7% during the 4th quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company’s stock worth $65,582,000 after acquiring an additional 101,120 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.