Genius Sports (NYSE:GENI) Hits New 52-Week Low - Here's What Happened

Key Points

• 52-week low: GENI fell to a new 52-week low of $4.19 (last $4.2050) on heavy volume (~1.54M shares), valuing the company at about $909 million.
• Quarterly results: The company missed EPS expectations, reporting ($0.08) versus $0.02 expected, while revenue grew 37% YoY to $240.5M and profitability remains negative (net margin -16.7%, ROE -13.66%).
• Analyst sentiment: Despite several price-target cuts, the consensus rating is a "Moderate Buy" with an average target of $12.84, and institutional investors hold roughly 81.9% of the stock.

Genius Sports Limited (NYSE:GENI - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $4.19 and last traded at $4.2050, with a volume of 1541476 shares trading hands. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Genius Sports in a research report on Friday. Truist Financial lowered their target price on shares of Genius Sports from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Guggenheim dropped their price target on shares of Genius Sports from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, February 6th. BTIG Research reduced their price target on shares of Genius Sports from $16.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Finally, B. Riley Financial restated a "buy" rating on shares of Genius Sports in a report on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Genius Sports currently has an average rating of "Moderate Buy" and a consensus target price of $12.84.

Genius Sports Stock Performance

The company has a 50 day moving average of $6.53 and a 200-day moving average of $9.50. The stock has a market cap of $909.34 million, a price-to-earnings ratio of -9.83 and a beta of 1.91.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.10). The business had revenue of $240.50 million for the quarter, compared to analysts' expectations of $234.94 million. Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The firm's revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share. On average, research analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Genius Sports by 79.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company's stock valued at $16,009,000 after purchasing an additional 572,607 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Genius Sports by 395.5% during the 3rd quarter. New York State Common Retirement Fund now owns 979,000 shares of the company's stock worth $12,120,000 after purchasing an additional 781,411 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Genius Sports by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,006,277 shares of the company's stock worth $36,316,000 after purchasing an additional 117,591 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Genius Sports by 341.6% during the third quarter. Stephens Investment Management Group LLC now owns 3,330,469 shares of the company's stock worth $41,231,000 after purchasing an additional 2,576,329 shares in the last quarter. Finally, Penn Capital Management Company LLC increased its holdings in Genius Sports by 2,593.7% in the third quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company's stock valued at $15,116,000 after buying an additional 1,174,431 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

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.

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