Genius Sports (NYSE:GENI) CEO Mark Locke Sells 477,449 Shares of Stock

Key Points

• CEO Mark Locke sold 477,449 Genius Sports shares at an average price of $6.58, generating approximately $3.14 million. He retained 19.7 million shares, a 2.37% reduction in his ownership.
• GENI shares fell 2.1% to $6.48, while the company reported quarterly revenue of $195.5 million, up 64.7% year over year, but missed earnings expectations with a loss of $0.28 per share.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $11.44; institutional investors own approximately 81.9% of the stock.

Genius Sports Limited (NYSE:GENI - Get Free Report) CEO Mark Locke sold 477,449 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $6.58, for a total transaction of $3,141,614.42. Following the sale, the chief executive officer owned 19,697,767 shares of the company's stock, valued at approximately $129,611,306.86. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Mark Locke also recently made the following trade(s):

• On Thursday, September 17th, Mark Locke sold 50,000 shares of Genius Sports stock. The shares were sold at an average price of $6.54, for a total value of $327,000.00.
• On Wednesday, September 16th, Mark Locke sold 272,551 shares of Genius Sports stock. The shares were sold at an average price of $6.56, for a total value of $1,787,934.56.

Genius Sports Trading Down 2.1%

Shares of GENI stock traded down $0.14 during trading hours on Thursday, reaching $6.48. The company's stock had a trading volume of 7,189,063 shares, compared to its average volume of 4,524,462. The stock has a market capitalization of $1.60 billion, a P/E ratio of -9.54 and a beta of 1.88. Genius Sports Limited has a one year low of $3.83 and a one year high of $13.69. The firm's fifty day simple moving average is $7.25 and its 200 day simple moving average is $5.97. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.21). The business had revenue of $195.50 million during the quarter, compared to analysts' expectations of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The business's revenue was up 64.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) EPS. Equities research analysts expect that Genius Sports Limited will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GENI. Roth Capital reissued a "buy" rating and set a $12.00 price target on shares of Genius Sports in a research report on Friday, August 7th. Oppenheimer raised their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Weiss Ratings raised Genius Sports from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. Stifel Nicolaus raised their price objective on Genius Sports from $5.00 to $7.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. Finally, Needham & Company LLC increased their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Parallel Advisors LLC bought a new position in shares of Genius Sports during the first quarter valued at approximately $25,000. Lexington Hill Partners LLC purchased a new stake in shares of Genius Sports during the 2nd quarter worth $64,000. Clearstead Advisors LLC boosted its position in Genius Sports by 74,341.2% during the fourth quarter. Clearstead Advisors LLC now owns 12,655 shares of the company's stock valued at $139,000 after purchasing an additional 12,638 shares in the last quarter. MQS Management LLC bought a new stake in Genius Sports during the fourth quarter valued at about $142,000. Finally, Corient Private Wealth LP purchased a new position in Genius Sports in the second quarter worth $83,000. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Company Profile

Genius Sports Limited NYSE: GENI is a sports technology and data company that provides official sports data, technology, and digital services to sports leagues, federations, teams, broadcasters, sportsbooks, and brands. Its platforms help clients collect, manage, distribute, and commercialize live sports information across digital channels.

The company's offerings include live scores and statistics, data feeds for sports betting, fan-engagement tools, video streaming and content services, and advertising and sponsorship technology.

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