Genius Sports (NYSE:GENI) Stock Price Up 5.2% - Should You Buy?

Genius Sports Limited (NYSE:GENI - Get Free Report) shares traded up 5.2% during mid-day trading on Friday . The stock traded as high as $10.38 and last traded at $10.40. 1,675,851 shares were traded during mid-day trading, a decline of 53% from the average session volume of 3,560,063 shares. The stock had previously closed at $9.88.

Analyst Ratings Changes

Several brokerages have recently commented on GENI. JMP Securities reaffirmed a "market outperform" rating and set a $11.00 price objective on shares of Genius Sports in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a report on Monday, April 21st. They issued a "buy" rating and a $12.00 price target for the company. Needham & Company LLC reissued a "buy" rating and set a $13.00 price objective on shares of Genius Sports in a research report on Tuesday, May 6th. Lake Street Capital boosted their target price on Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, BTIG Research increased their price target on Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $12.19.

Genius Sports Trading Up 1.5%

The business's fifty day moving average is $10.14 and its 200 day moving average is $9.49. The company has a market cap of $2.21 billion, a P/E ratio of -32.03 and a beta of 1.96.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The firm had revenue of $143.99 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) EPS. As a group, research analysts expect that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its board has initiated a stock repurchase plan on Tuesday, May 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of GENI. Perigon Wealth Management LLC purchased a new stake in Genius Sports during the 4th quarter worth about $136,000. Calamos Advisors LLC purchased a new stake in shares of Genius Sports in the fourth quarter worth about $1,491,000. Yorktown Management & Research Co Inc bought a new position in shares of Genius Sports in the fourth quarter valued at approximately $542,000. Robertson Stephens Wealth Management LLC grew its stake in Genius Sports by 47.8% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 200,851 shares of the company's stock valued at $1,737,000 after acquiring an additional 64,955 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Genius Sports by 26.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,535 shares of the company's stock worth $204,000 after purchasing an additional 4,873 shares in the last quarter. Institutional investors own 81.91% of the company's stock.

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.