Genius Sports (NYSE:GENI) Stock Gets Price Target Reduction from BTIG Research

Key Points

• BTIG Research cut its price target on Genius Sports from $10 to $8 but maintained a Buy rating; the new target implies 35.3% upside from the then-current share price.
• Shares fell 15.7% to $5.91 on Thursday. The broader analyst consensus remained “Moderate Buy,” with an average price target of $10.91.
• Quarterly revenue rose 62.3% year over year to $269.9 million, beating expectations, while EPS was a loss of $0.06 versus analysts’ forecast of $0.01 in earnings.

Genius Sports (NYSE:GENI - Get Free Report) had its target price lowered by BTIG Research from $10.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target indicates a potential upside of 35.32% from the stock's current price.

Several other equities analysts have also weighed in on the stock. Freedom Capital upgraded shares of Genius Sports to a "strong-buy" rating in a report on Monday, July 20th. Zacks Research raised shares of Genius Sports from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 6th. Needham & Company LLC lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Roth Capital reiterated a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a report on Friday, August 7th. Finally, Oppenheimer increased their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Genius Sports currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.91.

Genius Sports Trading Down 15.7%

Shares of NYSE GENI traded down $1.10 during trading on Thursday, hitting $5.91. 21,811,629 shares of the company were exchanged, compared to its average volume of 6,505,024. Genius Sports has a 12-month low of $3.83 and a 12-month high of $11.57. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97. The company has a fifty day moving average price of $6.60 and a 200-day moving average price of $6.25. The firm has a market capitalization of $1.46 billion, a PE ratio of -8.69 and a beta of 1.95.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.07). Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The firm had revenue of $269.86 million during the quarter, compared to analysts' expectations of $261.13 million. During the same period in the prior year, the company posted ($0.11) EPS. The company's revenue for the quarter was up 62.3% compared to the same quarter last year. As a group, equities research analysts expect that Genius Sports will post -0.35 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mark Locke sold 50,000 shares of Genius Sports stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.54, for a total value of $327,000.00. Following the completion of the sale, the chief executive officer owned 19,375,216 shares in the company, valued at approximately $126,713,912.64. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Russell sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the completion of the sale, the insider directly owned 471,467 shares in the company, valued at approximately $3,069,250.17. The trade was a 9.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 850,000 shares of company stock worth $5,582,049 over the last three months. Insiders own 16.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Genius Sports during the 3rd quarter worth $73,000. Kestra Advisory Services LLC purchased a new position in Genius Sports in the third quarter valued at $121,000. Commonwealth Equity Services LLC raised its stake in Genius Sports by 81.0% in the third quarter. Commonwealth Equity Services LLC now owns 19,889 shares of the company's stock valued at $114,000 after buying an additional 8,898 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in Genius Sports by 26.4% in the third quarter. Chicago Partners Investment Group LLC now owns 70,420 shares of the company's stock valued at $446,000 after buying an additional 14,722 shares in the last quarter. Finally, Integrity Alliance LLC. purchased a new stake in Genius Sports during the 3rd quarter worth about $141,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Genius Sports Company Profile

Genius Sports Limited NYSE: GENI is a sports technology and data company that provides official sports data, technology, and digital media solutions. Its platform helps sports organizations collect, manage, and distribute live game data while supporting fan engagement and commercial activities.

The company supplies real-time data and related products to sportsbooks, media companies, sports leagues, teams, and brands. Its services include live statistics, betting data and trading solutions, streaming and video content, digital marketing, sponsorship activation, and tools designed to connect sports audiences with content and advertising.

Genius Sports serves customers across international sports markets, including North America, Europe, and other regions.

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