Genius Sports (NYSE:GENI) Stock: Insider Jack Davison Sells 30,000 Shares

Key Points

• Insider Jack Davison sold 30,000 shares at an average price of $6.14, totaling $184,200. He retained 1,999,706 shares after the sale.
• Genius Sports shares rose 2.2% to $6.24 in Friday trading. The company’s latest quarterly revenue grew 62.3% year over year to $269.86 million, beating estimates, while its $0.06-per-share loss missed consensus expectations.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $10.76, though recommendations range from strong buy to sell.

Genius Sports Limited (NYSE:GENI - Get Free Report) insider Jack Davison sold 30,000 shares of Genius Sports stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $6.14, for a total value of $184,200.00. Following the completion of the transaction, the insider owned 1,999,706 shares of the company's stock, valued at approximately $12,278,194.84. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Genius Sports Stock Up 2.2%

NYSE:GENI traded up $0.14 during midday trading on Friday, reaching $6.24. The company had a trading volume of 4,632,769 shares, compared to its average volume of 6,511,555. Genius Sports Limited has a 12-month low of $3.83 and a 12-month high of $11.57. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -9.90 and a beta of 1.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. The stock's fifty day simple moving average is $6.42 and its 200-day simple moving average is $6.14.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $269.86 million for the quarter, compared to analysts' expectations of $261.13 million. Genius Sports had a negative return on equity of 22.27% and a negative net margin of 18.85%. Genius Sports's revenue for the quarter was up 62.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) EPS. On average, sell-side analysts anticipate that Genius Sports Limited will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Senvest Management LLC grew its stake in Genius Sports by 45.1% during the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company's stock worth $60,486,000 after buying an additional 4,243,157 shares during the last quarter. Amova Asset Management Americas Inc. increased its position in Genius Sports by 65.7% during the first quarter. Amova Asset Management Americas Inc. now owns 3,909,945 shares of the company's stock worth $17,321,000 after buying an additional 1,549,816 shares during the period. Allspring Global Investments Holdings LLC increased its position in Genius Sports by 10.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,557,178 shares of the company's stock worth $16,150,000 after buying an additional 339,792 shares during the period. WCM Investment Management LLC lifted its stake in Genius Sports by 510.9% in the first quarter. WCM Investment Management LLC now owns 2,917,437 shares of the company's stock valued at $12,370,000 after buying an additional 2,439,890 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Genius Sports by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 2,254,853 shares of the company's stock valued at $9,989,000 after buying an additional 201,002 shares during the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GENI has been the subject of several analyst reports. Roth Capital reiterated a "buy" rating and set a $12.00 price target on shares of Genius Sports in a report on Friday, August 7th. Zacks Research lowered shares of Genius Sports from a "hold" rating to a "strong sell" rating in a report on Wednesday, November 4th. Oppenheimer decreased their price objective on shares of Genius Sports from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Friday, November 6th. Citigroup reiterated a "market outperform" rating on shares of Genius Sports in a research note on Thursday, October 8th. Finally, Needham & Company LLC increased their target price on Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $10.76.

Genius Sports Company Profile

Genius Sports is a sports technology company that collects, manages and distributes data and video from sporting events. Its technology supports live statistics, scores and other sports content for leagues, teams, broadcasters and betting operators. The company also provides services for sports betting, including official data distribution, trading tools and integrity monitoring. Its media and marketing offerings help sports organizations and brands connect with fans through digital content and targeted advertising.

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