Genius Sports (NYSE:GENI) Trading Up 10.2% - Time to Buy?

Key Points

• Genius Sports shares rose 10.2% to $7.14 in mid-day trading, although volume was 84% below the average session level.
• Wall Street sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $11.19, implying substantial upside from the current price.
• The company’s revenue increased 30.5% year over year to $187.95 million, but it missed EPS expectations and continues to report negative margins and return on equity. Institutional investors own approximately 81.91% of the stock.

Shares of Genius Sports Limited (NYSE:GENI - Get Free Report) traded up 10.2% during mid-day trading on Monday . The company traded as high as $7.20 and last traded at $7.14. 997,167 shares traded hands during trading, a decline of 84% from the average session volume of 6,166,786 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GENI. B. Riley Financial restated a "buy" rating on shares of Genius Sports in a report on Friday, May 8th. Stifel Nicolaus upped their target price on Genius Sports from $5.00 to $7.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. BTIG Research dropped their price target on Genius Sports from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Freedom Capital raised Genius Sports to a "strong-buy" rating in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a research report on Monday, May 11th. They issued a "buy" rating and a $10.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Genius Sports currently has a consensus rating of "Moderate Buy" and an average target price of $11.19.

Genius Sports Stock Up 10.9%

The stock has a fifty day moving average price of $6.14 and a two-hundred day moving average price of $6.14. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -11.81 and a beta of 1.91.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.12). The company had revenue of $187.95 million for the quarter, compared to analysts' expectations of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The company's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) EPS. As a group, research analysts forecast that Genius Sports Limited will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TimesSquare Capital Management LLC purchased a new stake in Genius Sports in the fourth quarter valued at approximately $59,851,000. Senvest Management LLC raised its stake in Genius Sports by 45.1% during the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company's stock worth $60,486,000 after purchasing an additional 4,243,157 shares during the period. Invesco Ltd. boosted its holdings in shares of Genius Sports by 3,584.2% in the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company's stock valued at $34,233,000 after purchasing an additional 3,202,290 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Genius Sports by 785.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company's stock valued at $36,248,000 after buying an additional 2,917,830 shares during the period. Finally, Voss Capital LP grew its stake in shares of Genius Sports by 35.4% during the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company's stock valued at $122,322,000 after buying an additional 2,900,000 shares during the period. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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