Wall Street Zen Upgrades Genius Sports (NYSE:GENI) to "Sell"

Key Points

• Wall Street Zen upgraded Genius Sports from “strong sell” to “sell”, but the stock still has a broadly Moderate Buy consensus from analysts with an average price target of $11.50.
• Genius Sports reported quarterly EPS of -$0.21, missing expectations, even though revenue rose 30.5% year over year to $187.95 million and came in above estimates.
• Institutional ownership remains high, with hedge funds and other institutions holding about 81.91% of shares, while several large investors notably increased their stakes in the company.

Genius Sports (NYSE:GENI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued on Saturday.

Other equities research analysts also recently issued reports about the stock. Truist Financial cut their target price on shares of Genius Sports from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. Citigroup decreased their price target on shares of Genius Sports from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a research note on Monday, May 11th. They issued a "buy" rating and a $10.00 price target for the company. B. Riley Financial reiterated a "buy" rating on shares of Genius Sports in a research note on Friday, May 8th. Finally, Roth Capital set a $10.00 price objective on Genius Sports in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $11.50.

Genius Sports Price Performance

NYSE GENI opened at $6.31 on Friday. The company has a market cap of $1.55 billion, a P/E ratio of -10.34 and a beta of 1.91. The stock has a 50-day moving average of $5.91 and a two-hundred day moving average of $6.33. Genius Sports has a 1-year low of $3.83 and a 1-year high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The business had revenue of $187.95 million for the quarter, compared to analysts' expectations of $170.60 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm's revenue for the quarter was up 30.5% on a year-over-year basis. On average, analysts anticipate that Genius Sports will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC purchased a new stake in shares of Genius Sports in the 4th quarter valued at approximately $59,851,000. Senvest Management LLC lifted its position 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 worth $60,486,000 after purchasing an additional 4,243,157 shares during the last quarter. Invesco Ltd. grew its stake in shares of Genius Sports by 3,584.2% during the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company's stock worth $34,233,000 after purchasing an additional 3,202,290 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Genius Sports by 785.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company's stock valued at $36,248,000 after buying an additional 2,917,830 shares during the last quarter. Finally, Voss Capital LP increased 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 valued at $122,322,000 after buying an additional 2,900,000 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company's stock.

About Genius Sports

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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