Genius Sports (NYSE:GENI) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Genius Sports shares fell below their 200-day moving average of $6.14, trading as low as $5.99 before last changing hands at $6.106.
• Quarterly EPS was a loss of $0.06, missing the $0.01 consensus estimate, while revenue of $269.86 million beat forecasts and rose 62.3% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $10.76; recent ratings include a $9 target from Goldman Sachs and a reduced $7 target from Stifel.

Genius Sports Limited (NYSE:GENI - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $6.14 and traded as low as $5.99. Genius Sports shares last traded at $6.1060, with a volume of 5,931,626 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen raised Genius Sports from a "strong sell" rating to a "sell" rating in a research report on Sunday, November 8th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Genius Sports in a research report on Friday, November 6th. Stifel Nicolaus reduced their target price on Genius Sports from $8.50 to $7.00 and set a "hold" rating for the company in a research note on Monday, October 26th. Benchmark reissued a "buy" rating on shares of Genius Sports in a report on Friday, August 28th. Finally, Roth Capital reissued a "buy" rating and set a $12.00 target price on shares of Genius Sports 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 issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.76.

Genius Sports Stock Performance

The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -9.69 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 50 day moving average is $6.42 and its 200 day moving average is $6.14.

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

Insider Activity

In other Genius Sports news, CEO Mark Locke sold 477,449 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 19,697,767 shares in the company, valued at $129,611,306.86. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Russell sold 50,000 shares of the firm's stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $6.51, for a total value of $325,500.00. Following the completion of the transaction, the insider owned 471,467 shares in the company, valued at $3,069,250.17. The trade was a 9.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 850,000 shares of company stock worth $5,582,049 over the last 90 days. 16.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

About Genius Sports

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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