Genius Sports Limited (NYSE:GENI - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.38, but opened at $9.70. Genius Sports shares last traded at $9.82, with a volume of 979,909 shares.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on GENI. The Goldman Sachs Group boosted their target price on Genius Sports from $11.00 to $12.50 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Craig Hallum set a $15.00 price target on Genius Sports in a research report on Tuesday, March 4th. B. Riley reissued a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. BTIG Research upped their target price on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Finally, Guggenheim started coverage on Genius Sports in a research report on Tuesday, March 18th. They issued a "buy" rating and a $12.00 target price on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.19.
Check Out Our Latest Research Report on GENI
Genius Sports Trading Down 3.7%
The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -31.45 and a beta of 1.87. The stock has a 50-day moving average of $10.02 and a two-hundred day moving average of $9.53.
Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $143.99 million during the quarter, compared to the consensus estimate of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business's revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.11) EPS. Sell-side analysts expect that Genius Sports Limited will post -0.1 EPS for the current fiscal year.
Genius Sports announced that its board has authorized a share buyback program on Tuesday, May 6th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 4.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in Genius Sports by 4.6% in the 1st quarter. Victory Capital Management Inc. now owns 24,854 shares of the company's stock valued at $249,000 after buying an additional 1,085 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Genius Sports by 2.7% during the 4th quarter. D.A. Davidson & CO. now owns 53,608 shares of the company's stock worth $464,000 after purchasing an additional 1,396 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Genius Sports by 61.5% during 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 in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Genius Sports by 2.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 57,732 shares of the company's stock worth $578,000 after purchasing an additional 1,652 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Genius Sports by 9.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,849 shares of the company's stock worth $259,000 after purchasing an additional 2,314 shares in the last quarter. 81.91% of the stock is owned by institutional investors.
About Genius Sports
(
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.
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