Genius Sports Limited (NYSE:GENI - Get Free Report) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 19,140,000 shares, a decrease of 39.0% from the April 30th total of 31,360,000 shares. Based on an average daily trading volume, of 4,270,000 shares, the short-interest ratio is presently 4.5 days. Currently, 8.9% of the shares of the stock are short sold.
Genius Sports Stock Up 0.8%
Shares of Genius Sports stock traded up $0.08 on Wednesday, hitting $9.52. 2,462,100 shares of the company's stock traded hands, compared to its average volume of 3,002,748. The stock has a market cap of $2.05 billion, a P/E ratio of -29.75 and a beta of 1.96. Genius Sports has a 52-week low of $5.09 and a 52-week high of $11.40. The firm's 50-day moving average is $10.03 and its 200 day moving average is $9.51.
Genius Sports (NYSE:GENI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm's revenue for the quarter was up 20.3% on a year-over-year basis. During the same period last year, the company earned ($0.11) earnings per share. Equities research analysts forecast that Genius Sports will post -0.1 EPS for the current year.
Genius Sports declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Hodges Capital Management Inc. bought a new position in Genius Sports during the first quarter valued at about $2,152,000. 1060 Capital LLC bought a new position in shares of Genius Sports in the 1st quarter valued at approximately $7,007,000. PharVision Advisers LLC bought a new position in shares of Genius Sports in the 1st quarter valued at approximately $118,000. Nixon Capital LLC increased its position in Genius Sports by 6.7% in the 1st quarter. Nixon Capital LLC now owns 1,038,629 shares of the company's stock worth $10,397,000 after buying an additional 64,767 shares during the period. Finally, Millennium Management LLC increased its position in Genius Sports by 1,579.0% in the 1st quarter. Millennium Management LLC now owns 2,766,206 shares of the company's stock worth $27,690,000 after buying an additional 2,601,453 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently issued reports on GENI shares. B. Riley restated a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. Benchmark reissued a "buy" rating and set a $12.00 price objective on shares of Genius Sports in a report on Thursday, April 17th. Craig Hallum set a $15.00 target price on shares of Genius Sports in a report on Tuesday, March 4th. The Goldman Sachs Group raised their target price on shares of Genius Sports from $11.00 to $12.50 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, Guggenheim initiated coverage on shares of Genius Sports in a research report on Tuesday, March 18th. They set a "buy" rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Genius Sports has a consensus rating of "Moderate Buy" and a consensus price target of $12.19.
Check Out Our Latest Report on GENI
Genius Sports Company Profile
(
Get Free Report)
Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.
Further Reading
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