Genius Sports (NYSE:GENI) Trading Down 6.6% – Here’s What Happened

Genius Sports Limited (NYSE:GENI)’s share price was down 6.6% on Monday . The stock traded as low as $7.48 and last traded at $7.49. Approximately 1,875,724 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 6,291,976 shares. The stock had previously closed at $8.02.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GENI shares. Roth Capital restated a “buy” rating and set a $12.00 price objective on shares of Genius Sports in a research report on Friday, August 7th. Wall Street Zen downgraded Genius Sports from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Zacks Research lowered Genius Sports from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Needham & Company LLC lifted their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $10.50 price target on shares of Genius Sports in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.44.

Genius Sports Stock Performance

The stock’s 50-day simple moving average is $7.05 and its 200-day simple moving average is $5.88. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -10.60 and a beta of 1.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10.

Genius Sports (NYSE:GENI) last announced its 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 business had revenue of $195.50 million for the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The firm’s revenue for the quarter was up 64.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) earnings per share. Analysts forecast that Genius Sports Limited will post -0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC acquired a new stake in shares of Genius Sports during the 4th quarter worth $59,851,000. Senvest Management LLC raised its stake in Genius Sports by 45.1% in the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock valued at $60,486,000 after purchasing an additional 4,243,157 shares in the last quarter. Invesco Ltd. raised its stake in Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after purchasing an additional 3,202,290 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Genius Sports by 785.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company’s stock worth $36,248,000 after purchasing an additional 2,917,830 shares during the period. Finally, Voss Capital LP grew its stake in Genius Sports by 35.4% during the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock worth $122,322,000 after buying an additional 2,900,000 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Company Profile

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.