Genius Sports (NYSE:GENI) PT Set at $13.00 by JMP Securities

JMP Securities set a $13.00 price objective on Genius Sports (NYSE:GENI - Free Report) in a research note published on Monday, MarketBeat.com reports. The firm currently has a market outperform rating on the stock.

Several other analysts have also weighed in on GENI. B. Riley reaffirmed a "buy" rating on shares of Genius Sports in a report on Wednesday, May 7th. Benchmark restated a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Genius Sports in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a report on Monday, April 21st. They issued a "buy" rating and a $12.00 price target for the company. Finally, Craig Hallum set a $15.00 target price on Genius Sports in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.46.

Genius Sports Trading Up 3.2%

GENI traded up $0.31 on Monday, hitting $10.05. 1,751,626 shares of the stock traded hands, compared to its average volume of 3,348,028. Genius Sports has a 52 week low of $5.31 and a 52 week high of $11.40. The business has a fifty day moving average price of $10.07 and a two-hundred day moving average price of $9.56.

Genius Sports (NYSE:GENI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. The business had revenue of $143.99 million for the quarter, compared to analysts' expectations of $143.31 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. The firm's revenue for the quarter was up 20.3% on a year-over-year basis. As a group, research analysts predict that Genius Sports will post -0.1 earnings per share for the current year.

Genius Sports declared that its board has approved a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Institutional Trading of Genius Sports

Several hedge funds have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP increased its holdings in shares of Genius Sports by 32,386.5% during the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock worth $30,723,000 after purchasing an additional 3,540,818 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Genius Sports in the fourth quarter valued at approximately $24,712,000. The Manufacturers Life Insurance Company bought a new position in shares of Genius Sports during the first quarter valued at $28,280,000. Millennium Management LLC lifted its holdings in Genius Sports by 1,579.0% during the 1st quarter. Millennium Management LLC now owns 2,766,206 shares of the company's stock worth $27,690,000 after buying an additional 2,601,453 shares during the period. Finally, Wellington Management Group LLP increased its position in Genius Sports by 25.4% during the 1st quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company's stock valued at $102,547,000 after purchasing an additional 2,076,590 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Company Profile

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.