Genius Sports (NYSE:GENI) Shares Gap Up – Time to Buy?

Genius Sports Limited (NYSE:GENI) gapped up before the market opened on Friday. The stock had previously closed at $5.80, but opened at $6.15. Genius Sports shares last traded at $6.2550, with a volume of 1,680,897 shares traded.

Analyst Ratings Changes

GENI has been the subject of a number of research analyst reports. Freedom Capital upgraded shares of Genius Sports to a “strong-buy” rating in a report on Monday, July 20th. Wall Street Zen raised shares of Genius Sports from a “strong sell” rating to a “sell” rating in a report on Monday. Roth Capital reissued a “buy” rating and issued a $12.00 target price on shares of Genius Sports in a report on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of Genius Sports in a research report on Tuesday, September 8th. Finally, BTIG Research increased their target price on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.25.

Genius Sports Stock Up 8.5%

The firm has a fifty day moving average price of $7.20 and a 200-day moving average price of $5.96. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -9.24 and a beta of 1.88.

Genius Sports (NYSE:GENI) last released its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 business had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The business’s revenue for the quarter was up 64.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Genius Sports Limited will post -0.35 EPS for the current year.

Insider Activity at Genius Sports

In related news, 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 value of $327,000.00. Following the sale, the chief executive officer directly owned 19,375,216 shares of the company’s stock, valued at approximately $126,713,912.64. This trade represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Russell 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 $6.51, 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. The trade was a 9.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 850,000 shares of company stock worth $5,582,049 over the last three months. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of Genius Sports

Institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd purchased a new position in shares of Genius Sports in the 2nd quarter worth $1,120,000. Corient Private Wealth LP purchased a new stake in Genius Sports during the second quarter valued at about $83,000. Odyssean LLC grew its position in Genius Sports by 61.3% during the second quarter. Odyssean LLC now owns 230,581 shares of the company’s stock valued at $1,397,000 after acquiring an additional 87,604 shares during the period. Round Rock Advisors LLC acquired a new stake in Genius Sports during the second quarter worth about $595,000. Finally, Ancora Advisors LLC raised its holdings in shares of Genius Sports by 201.3% in the 2nd quarter. Ancora Advisors LLC now owns 370,631 shares of the company’s stock worth $2,246,000 after purchasing an additional 247,610 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.

About Genius Sports

Genius Sports Limited (NYSE:GENI) is a sports technology and data company that provides official sports data, technology, and digital services to sports leagues, federations, teams, broadcasters, sportsbooks, and brands. Its platforms help clients collect, manage, distribute, and commercialize live sports information across digital channels.

The company’s offerings include live scores and statistics, data feeds for sports betting, fan-engagement tools, video streaming and content services, and advertising and sponsorship technology.