Genius Sports (NYSE:GENI) Stock Jumps 7.7% - Here's What Happened

Key Points

• Genius Sports shares rose 7.7% to about $6.12 in Friday trading, with a market capitalization of roughly $1.50 billion.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $11.25.
• The company’s latest quarterly revenue increased 64.7% year over year to $195.5 million, exceeding estimates, though its adjusted loss of $0.28 per share significantly missed expectations. Insiders have sold 850,000 shares worth approximately $5.6 million over the past 90 days.

Genius Sports Limited (NYSE:GENI - Get Free Report)'s stock price rose 7.7% during trading on Friday. The stock traded as high as $6.12 and last traded at $6.1150. 4,264,482 shares changed hands during trading, a decline of 33% from the average session volume of 6,399,066 shares. The stock had previously closed at $5.68.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Genius Sports from $5.00 to $7.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded Genius Sports from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. Benchmark reaffirmed a "buy" rating on shares of Genius Sports in a research note on Friday, August 28th. Oppenheimer increased their price objective 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. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $8.00 target price on shares of Genius Sports in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $11.25.

Genius Sports Trading Up 7.1%

The business has a 50-day moving average of $7.15 and a 200 day moving average of $5.99. The stock has a market cap of $1.50 billion, a PE ratio of -8.99 and a beta of 1.92. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97.

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

Insider Activity

In related news, insider Thomas Russell sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the sale, the insider owned 471,467 shares of the company's stock, valued at approximately $3,069,250.17. This represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Locke sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.54, for a total transaction of $327,000.00. Following the completion of the transaction, the chief executive officer owned 19,375,216 shares in the company, valued at $126,713,912.64. The trade was a 0.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 850,000 shares of company stock valued at $5,582,049 over the last 90 days. 16.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds have recently made changes to their positions in GENI. Voss Capital LP lifted its stake in shares of Genius Sports by 35.4% during the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company's stock worth $122,322,000 after purchasing an additional 2,900,000 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Genius Sports by 1.7% during the 4th quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company's stock valued at $65,582,000 after buying an additional 101,120 shares during the period. Senvest Management LLC raised its holdings in shares of Genius Sports by 45.1% during the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company's stock valued at $60,486,000 after buying an additional 4,243,157 shares during the period. Stephens Investment Management Group LLC lifted its position in Genius Sports by 35.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company's stock worth $33,661,000 after acquiring an additional 1,974,043 shares in the last quarter. Finally, Needham Investment Management LLC boosted its holdings in Genius Sports by 8.5% in the 4th quarter. Needham Investment Management LLC now owns 2,690,000 shares of the company's stock worth $29,644,000 after acquiring an additional 210,000 shares during the period. Hedge funds and other institutional investors own 81.91% of the company's stock.

About Genius Sports

Genius Sports Limited is a sports data, technology and media company that provides services to sports leagues, federations, teams, betting operators, broadcasters and brands. The company collects, manages and distributes official sports data, including live scores, statistics, schedules and related content, to support digital products, broadcasts and sports betting applications.

Its offerings include live data and odds solutions for betting operators, sports video and streaming services, fan-engagement tools, digital marketing and advertising technology, and sports integrity services designed to help organizations monitor competitions and protect against certain forms of betting-related misconduct.

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