Northland Capmk upgraded shares of Genius Sports (NYSE:GENI - Free Report) to a strong-buy rating in a research report released on Friday morning,Zacks.com reports.
Several other analysts have also issued reports on GENI. Truist Financial initiated coverage on Genius Sports in a report on Tuesday, July 1st. They set a "buy" rating and a $14.00 price target for the company. B. Riley reiterated a "buy" rating on shares of Genius Sports in a report on Wednesday, May 7th. Northland Securities began coverage on Genius Sports in a research report on Friday. They set an "outperform" rating and a $14.00 target price on the stock. Arete Research upgraded Genius Sports to a "strong-buy" rating in a report on Wednesday, July 9th. Finally, Benchmark reiterated a "buy" rating and set a $12.00 price objective on shares of Genius Sports in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $12.72.
View Our Latest Report on GENI
Genius Sports Trading Down 3.0%
Shares of GENI traded down $0.32 on Friday, reaching $10.32. The stock had a trading volume of 2,774,604 shares, compared to its average volume of 4,195,137. The company has a 50-day simple moving average of $10.10 and a 200-day simple moving average of $9.79. Genius Sports has a 12-month low of $5.76 and a 12-month high of $11.74.
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, beating analysts' consensus estimates of ($0.05) by $0.02. The business had revenue of $143.99 million during the quarter, compared to analysts' expectations of $143.31 million. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. The firm's quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Equities research analysts predict that Genius Sports will post -0.1 earnings per share for the current fiscal year.
Genius Sports declared that its board has initiated a stock buyback program on Tuesday, May 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in GENI. JPMorgan Chase & Co. boosted its position in Genius Sports by 138.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock worth $14,264,000 after acquiring an additional 957,559 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Genius Sports by 62.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company's stock worth $21,683,000 after buying an additional 833,335 shares during the period. D.A. Davidson & CO. grew its holdings in Genius Sports by 67.0% during the 1st quarter. D.A. Davidson & CO. now owns 89,551 shares of the company's stock worth $896,000 after acquiring an additional 35,943 shares in the last quarter. Nixon Capital LLC acquired a new position in shares of Genius Sports in the 4th quarter valued at about $8,463,000. Finally, Greenwood Capital Associates LLC acquired a new position in shares of Genius Sports in the 1st quarter valued at about $518,000. 81.91% of the stock is owned by hedge funds and other institutional investors.
About Genius Sports
(
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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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