Genius Sports (NYSE:GENI) Shares Up 5.2% - Still a Buy?

Genius Sports Limited (NYSE:GENI - Get Free Report)'s stock price shot 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 traded hands 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.

Wall Street Analysts Forecast Growth

GENI has been the subject of a number of research analyst reports. B. Riley reissued a "buy" rating on shares of Genius Sports in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Genius Sports in a report on Monday, April 21st. They issued a "buy" rating and a $12.00 target price for the company. Craig Hallum set a $15.00 price target on Genius Sports in a report on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on Genius Sports from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Finally, BTIG Research upped their target price on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.19.

Genius Sports Price Performance

The company has a market cap of $2.17 billion, a price-to-earnings ratio of -31.44 and a beta of 1.96. The firm has a fifty day simple moving average of $10.14 and a 200 day simple moving average of $9.49.

Genius Sports (NYSE:GENI - Get Free Report) last posted 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 business had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Genius Sports's revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business posted ($0.11) EPS. Analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current year.

Genius Sports announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 4.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Genius Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Quarry LP bought a new position in Genius Sports during the first quarter valued at about $37,000. Pacer Advisors Inc. raised its stake in shares of Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock valued at $38,000 after purchasing an additional 1,430 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Genius Sports in the fourth quarter valued at $58,000. IPG Investment Advisors LLC bought a new position in Genius Sports in the first quarter worth $107,000. Finally, Park National Corp OH bought a new stake in Genius Sports in the 1st quarter valued at $107,000. 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.