Genius Sports (NYSE:GENI) Reaches New 1-Year High - Should You Buy?

Genius Sports Limited (NYSE:GENI - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $11.29 and last traded at $11.24, with a volume of 1414640 shares trading hands. The stock had previously closed at $11.05.

Analyst Ratings Changes

A number of brokerages recently commented on GENI. BTIG Research lifted their price objective on Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Guggenheim began coverage on Genius Sports in a research report on Tuesday, March 18th. They set a "buy" rating and a $12.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research note on Monday, April 21st. They issued a "buy" rating and a $12.00 price target on the stock. Lake Street Capital upped their price target on shares of Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $11.00 price objective on shares of Genius Sports in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.19.

Genius Sports Stock Up 1.0 %

The stock has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $9.19. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -32.03 and a beta of 1.96.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The company had revenue of $143.99 million during the quarter, compared to the consensus estimate of $143.31 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The firm's quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.11) earnings per share. Analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 4.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Institutional Trading of Genius Sports

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Genius Sports by 61.5% during the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after purchasing an additional 1,430 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Genius Sports during the 4th quarter worth $58,000. Steward Partners Investment Advisory LLC lifted its position in shares of Genius Sports by 39.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock worth $105,000 after buying an additional 3,429 shares during the last quarter. Park National Corp OH bought a new position in Genius Sports in the first quarter valued at about $107,000. Finally, Bayesian Capital Management LP bought a new position in shares of Genius Sports in the fourth quarter worth about $129,000. Institutional investors and hedge funds own 81.91% of the company's stock.

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.