Wall Street Zen Upgrades Genius Sports (NYSE:GENI) to "Sell"

Key Points

• Wall Street Zen upgraded Genius Sports to “sell” from “strong sell,” while overall analyst sentiment remains more positive, with a consensus “Moderate Buy” rating and an average price target of $11.44.
• Genius Sports reported a quarterly EPS loss of $0.28, missing estimates by $0.21, although revenue rose 64.7% year over year to $195.5 million and exceeded expectations.
• GENI shares opened at $7.51 and remain well below their 12-month high of $13.73; institutional investors own approximately 81.9% of the company.

Genius Sports (NYSE:GENI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on GENI. Wells Fargo & Company reiterated an "equal weight" rating and set a $8.00 price objective on shares of Genius Sports in a research report on Friday, August 7th. BTIG Research upped their price target on shares of Genius Sports from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Roth Capital reiterated a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a report on Monday, May 11th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, Zacks Research downgraded Genius Sports from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Genius Sports currently has a consensus rating of "Moderate Buy" and an average target price of $11.44.

Genius Sports Trading Down 1.6%

Shares of GENI stock opened at $7.51 on Friday. The firm has a 50 day moving average price of $7.16 and a two-hundred day moving average price of $5.92. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $1.85 billion, a PE ratio of -11.04 and a beta of 1.88. Genius Sports has a 12-month low of $3.83 and a 12-month high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last posted 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 firm had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. Genius Sports's revenue for the quarter was up 64.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. As a group, analysts predict that Genius Sports will post -0.35 earnings per share for the current year.

Institutional Trading of Genius Sports

Hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LP acquired a new position in shares of Genius Sports during the second quarter worth $83,000. California State Teachers Retirement System grew its position in Genius Sports by 56.8% during the 2nd quarter. California State Teachers Retirement System now owns 18,574 shares of the company's stock worth $113,000 after acquiring an additional 6,732 shares during the last quarter. Odyssean LLC grew its position in Genius Sports by 61.3% during the 2nd quarter. Odyssean LLC now owns 230,581 shares of the company's stock worth $1,397,000 after acquiring an additional 87,604 shares during the last quarter. Round Rock Advisors LLC acquired a new position in Genius Sports in the 2nd quarter worth about $595,000. Finally, Ancora Advisors LLC increased its holdings in Genius Sports by 201.3% in the 2nd quarter. Ancora Advisors LLC now owns 370,631 shares of the company's stock worth $2,246,000 after purchasing an additional 247,610 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

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.

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