Genius Sports (NYSE:GENI) Trading 3.9% Higher - Here's Why

Key Points

• Genius Sports shares rose 3.9% to $8.27 in Friday trading, although volume was 93% below the average session level.
• Analyst sentiment remains generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $11.44, with several firms recently setting $12 targets.
• The company’s latest quarterly revenue increased 64.7% year over year to $195.5 million, beating estimates, but its $0.28 per-share loss was wider than expected; institutional investors own nearly 82% of the stock.

Genius Sports Limited (NYSE:GENI - Get Free Report)'s stock price was up 3.9% during trading on Friday . The company traded as high as $8.29 and last traded at $8.27. 415,899 shares changed hands during trading, a decline of 93% from the average session volume of 6,265,829 shares. The stock had previously closed at $7.96.

Wall Street Analyst Weigh In

GENI has been the subject of several recent analyst reports. Weiss Ratings raised shares of Genius Sports from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 3rd. Needham & Company LLC raised their target price on Genius Sports from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Guggenheim boosted their price target on Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Benchmark reaffirmed a "buy" rating on shares of Genius Sports in a research report on Friday. Finally, Roth Capital reiterated a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $11.44.

Genius Sports Price Performance

The stock has a market cap of $2.01 billion, a P/E ratio of -12.00 and a beta of 1.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a 50-day moving average price of $6.96 and a 200-day moving average price of $5.85.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.21). The firm had revenue of $195.50 million for the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The company's revenue for the quarter was up 64.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. On average, analysts forecast that Genius Sports Limited will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Hedge funds and other institutional investors have recently modified their holdings of the business. Senvest Management LLC lifted its position in 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 acquiring an additional 4,243,157 shares during the period. Wellington Management Group LLP grew its holdings in Genius Sports by 17.9% in the third quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company's stock worth $167,298,000 after purchasing an additional 2,051,503 shares during the period. Voss Capital LP grew its holdings in Genius Sports by 35.4% in 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 during the period. Stephens Investment Management Group LLC increased its stake in shares of Genius Sports by 35.1% during the first quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company's stock valued at $33,661,000 after purchasing an additional 1,974,043 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of Genius Sports by 1.7% during the fourth quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company's stock valued at $65,582,000 after purchasing an additional 101,120 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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