Genius Sports (NYSE:GENI) Reaches New 1-Year High - Still a Buy?

Key Points

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Shares of Genius Sports Limited (NYSE:GENI - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $13.10 and last traded at $12.95, with a volume of 4820503 shares trading hands. The stock had previously closed at $12.91.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GENI shares. JMP Securities set a $13.00 price target on Genius Sports and gave the company a "market outperform" rating in a report on Monday, June 30th. Northland Capmk upgraded Genius Sports to a "strong-buy" rating in a research report on Friday, July 25th. Northland Securities assumed coverage on Genius Sports in a research report on Friday, July 25th. They issued an "outperform" rating and a $14.00 price objective on the stock. Truist Financial assumed coverage on Genius Sports in a research report on Tuesday, July 1st. They issued a "buy" rating and a $14.00 price objective on the stock. Finally, Arete assumed coverage on Genius Sports in a research report on Wednesday, July 9th. They issued a "buy" rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

Genius Sports Stock Up 0.3%

The company has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $10.14. The stock has a market capitalization of $2.79 billion, a P/E ratio of -41.77 and a beta of 1.86.

Genius Sports (NYSE:GENI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The business had revenue of $118.72 million for the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%. The business's revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, equities analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports declared that its board has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its holdings in shares of Genius Sports by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company's stock valued at $143,000 after purchasing an additional 3,548 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Genius Sports in the fourth quarter valued at about $253,000. Rockefeller Capital Management L.P. bought a new stake in shares of Genius Sports in the fourth quarter valued at about $1,834,000. Capital Research Global Investors lifted its holdings in shares of Genius Sports by 14.2% in the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company's stock valued at $112,038,000 after purchasing an additional 1,610,078 shares in the last quarter. Finally, Voss Capital LP increased its position in shares of Genius Sports by 16.7% in the fourth quarter. Voss Capital LP now owns 7,923,432 shares of the company's stock valued at $68,538,000 after acquiring an additional 1,134,029 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

About Genius Sports

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.

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