Genius Sports (NYSE:GENI) Shares Gap Up – Here’s Why

Shares of Genius Sports Limited (NYSE:GENI) gapped up before the market opened on Tuesday. The stock had previously closed at $5.99, but opened at $6.27. Genius Sports shares last traded at $6.3550, with a volume of 305,945 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Roth Capital reissued a “buy” rating and issued a $12.00 price objective on shares of Genius Sports in a research note 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, September 29th. Stifel Nicolaus lifted their price target on Genius Sports from $5.00 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. started coverage on Genius Sports in a report on Friday, September 25th. They set an “overweight” rating and a $8.00 price target on the stock. Finally, Guggenheim upped 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. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.25.

Genius Sports Price Performance

The firm has a market capitalization of $1.54 billion, a P/E ratio of -9.20 and a beta of 1.91. The company has a fifty day moving average of $7.12 and a 200 day moving average of $6.00. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.97.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (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 during the quarter, compared to analyst estimates of $184.43 million. During the same quarter last year, the firm posted ($0.21) EPS. The firm’s revenue for the quarter was up 64.7% on a year-over-year basis. Sell-side analysts predict that Genius Sports Limited will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Genius Sports

In other news, CEO Mark Locke sold 477,449 shares of Genius Sports stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $6.58, for a total value of $3,141,614.42. Following the completion of the transaction, the chief executive officer directly owned 19,697,767 shares of the company’s stock, valued at approximately $129,611,306.86. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Russell sold 50,000 shares of Genius Sports stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $6.51, for a total value 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. The trade was a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 850,000 shares of company stock worth $5,582,049. 16.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genius Sports

Hedge funds have recently added to or reduced their stakes in the company. Park National Corp OH bought a new position in shares of Genius Sports during the 3rd quarter worth approximately $84,000. WINTON GROUP Ltd bought a new position in shares of Genius Sports in the second quarter valued at approximately $1,120,000. Corient Private Wealth LP bought a new position in shares of Genius Sports in the second quarter valued at approximately $83,000. Odyssean LLC increased its position in shares of Genius Sports by 61.3% during the second quarter. Odyssean LLC now owns 230,581 shares of the company’s stock valued at $1,397,000 after acquiring an additional 87,604 shares during the last quarter. Finally, Round Rock Advisors LLC bought a new stake in Genius Sports during the second quarter worth $595,000. Institutional investors and hedge funds 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.