Genius Sports Limited (NYSE:GENI – Get Free Report) was up 7.7% during trading on Friday. The company traded as high as $6.12 and last traded at $6.1150. Approximately 4,264,482 shares changed hands during trading, a decline of 33% from the average daily volume of 6,399,066 shares. The stock had previously closed at $5.68.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GENI. JPMorgan Chase & Co. initiated coverage on shares of Genius Sports in a research note on Friday, September 25th. They set an “overweight” rating and a $8.00 price target on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $8.00 target price on shares of Genius Sports in a research note on Friday, August 7th. Oppenheimer lifted their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Freedom Capital upgraded Genius Sports to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Needham & Company LLC increased their price target on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a 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 assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.25.
Get Our Latest Analysis on Genius Sports
Genius Sports Stock Up 7.1%
Genius Sports (NYSE:GENI – Get Free Report) last released its 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 company had revenue of $195.50 million during the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.Genius Sports’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) EPS. As a group, research analysts predict that Genius Sports Limited will post -0.35 EPS for the current fiscal year.
Insider Activity
In other news, insider Thomas Russell sold 50,000 shares of Genius Sports stock in a transaction that occurred 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 approximately $3,069,250.17. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Locke sold 50,000 shares of the business’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 value of $327,000.00. Following the completion of the sale, the chief executive officer owned 19,375,216 shares of the company’s stock, valued at $126,713,912.64. This trade represents a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 850,000 shares of company stock valued at $5,582,049. 16.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Genius Sports
A number of hedge funds have recently added to or reduced their stakes in GENI. Voss Capital LP increased its stake in Genius Sports by 35.4% during the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock valued at $122,322,000 after purchasing an additional 2,900,000 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Genius Sports by 1.7% in the 4th quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company’s stock worth $65,582,000 after buying an additional 101,120 shares during the last quarter. Senvest Management LLC boosted its holdings in shares of Genius Sports by 45.1% in 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 boosted its holdings in shares of Genius Sports by 35.1% in the 1st quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock valued at $33,661,000 after buying an additional 1,974,043 shares during the period. Finally, Needham Investment Management LLC grew its position in shares of Genius Sports by 8.5% during the 4th quarter. Needham Investment Management LLC now owns 2,690,000 shares of the company’s stock valued at $29,644,000 after buying an additional 210,000 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.
Genius Sports Company Profile
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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