Genius Sports (NYSE:GENI) Sets New 52-Week High - Still a Buy?

Genius Sports Limited (NYSE:GENI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $11.56 and last traded at $11.40, with a volume of 2866723 shares traded. The stock had previously closed at $10.87.

Analyst Ratings Changes

GENI has been the subject of a number of analyst reports. Arete Research raised Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Genius Sports in a report on Thursday, June 12th. Citigroup restated an "outperform" rating on shares of Genius Sports in a report on Monday, June 30th. Truist Financial began coverage on Genius Sports in a report on Tuesday, July 1st. They set a "buy" rating and a $14.00 target price for the company. Finally, B. Riley reissued a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Genius Sports currently has an average rating of "Buy" and a consensus price target of $12.63.

Genius Sports Stock Performance

The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -59.97 and a beta of 1.86. The business's 50-day moving average is $10.01 and its two-hundred day moving average is $9.68.

Genius Sports (NYSE:GENI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) 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 analysts' expectations of $143.31 million. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. Genius Sports's quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 4.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Genius Sports

Large investors have recently modified their holdings of the company. Quarry LP purchased a new position in Genius Sports during the 1st quarter valued at about $37,000. Pacer Advisors Inc. increased its stake in Genius Sports by 61.5% in the 1st 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 period. Emerald Mutual Fund Advisers Trust purchased a new position in Genius Sports in the 4th quarter worth approximately $58,000. Park National Corp OH purchased a new position in shares of Genius Sports during the first quarter valued at approximately $107,000. Finally, IPG Investment Advisors LLC purchased a new position in shares of Genius Sports during the first quarter valued at approximately $107,000. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Company Profile

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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