Genius Sports (NYSE:GENI) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Genius Sports (NYSE:GENI) from a hold rating to a strong sell rating in a research note published on Wednesday,Zacks.com reports.

GENI has been the subject of several other research reports. The Goldman Sachs Group raised their price target on Genius Sports from $12.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Arete began coverage on shares of Genius Sports in a report on Wednesday, July 9th. They set a “buy” rating and a $15.00 target price for the company. Arete Research upgraded shares of Genius Sports to a “strong-buy” rating in a research note on Wednesday, July 9th. Macquarie reissued an “outperform” rating and issued a $15.00 price target on shares of Genius Sports in a report on Wednesday. Finally, Citigroup restated an “outperform” rating on shares of Genius Sports in a report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.22.

Genius Sports Stock Performance

Genius Sports stock opened at $10.19 on Wednesday. The stock has a 50-day simple moving average of $12.19 and a 200 day simple moving average of $11.23. The stock has a market capitalization of $2.19 billion, a P/E ratio of -21.68 and a beta of 1.84. Genius Sports has a 52 week low of $7.22 and a 52 week high of $13.73.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). Genius Sports had a negative net margin of 19.71% and a negative return on equity of 14.39%. The business had revenue of $166.28 million during the quarter, compared to analyst estimates of $156.24 million. Genius Sports has set its FY 2025 guidance at EPS. Research analysts forecast that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in GENI. Envestnet Asset Management Inc. raised its position in Genius Sports by 194.9% during the first quarter. Envestnet Asset Management Inc. now owns 48,904 shares of the company’s stock valued at $490,000 after purchasing an additional 32,322 shares in the last quarter. IFC Advisors LLC increased its stake in shares of Genius Sports by 6.8% in the 1st quarter. IFC Advisors LLC now owns 2,735,155 shares of the company’s stock valued at $27,379,000 after purchasing an additional 173,171 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Genius Sports by 11.8% during the 2nd quarter. Moody National Bank Trust Division now owns 661,714 shares of the company’s stock worth $6,882,000 after buying an additional 69,600 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Genius Sports during the 1st quarter worth $906,000. Finally, Quantbot Technologies LP boosted its stake in Genius Sports by 1,259.8% in the first quarter. Quantbot Technologies LP now owns 397,484 shares of the company’s stock valued at $3,979,000 after buying an additional 368,254 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

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.