Genius Sports (NYSE:GENI) Stock Rating Lowered by Wall Street Zen

Genius Sports (NYSE:GENI) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, Wall Street Zen reports.

GENI has been the topic of several other reports. Weiss Ratings raised shares of Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Needham & Company LLC upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Genius Sports in a research note on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of Genius Sports in a report on Tuesday, September 8th. Finally, Oppenheimer boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Genius Sports presently has an average rating of “Moderate Buy” and a consensus price target of $11.25.

Genius Sports Stock Performance

NYSE GENI opened at $5.75 on Tuesday. The business’s 50-day moving average price is $7.17 and its 200 day moving average price is $5.99. Genius Sports has a twelve month low of $3.83 and a twelve month high of $12.69. The company has a market capitalization of $1.42 billion, a PE ratio of -8.45 and a beta of 1.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The business had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The firm’s quarterly revenue was up 64.7% on a year-over-year basis. On average, research analysts predict that Genius Sports will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Thomas Russell 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 $6.51, for a total value of $325,500.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Locke sold 50,000 shares of Genius Sports stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.54, for a total transaction of $327,000.00. Following the transaction, the chief executive officer directly owned 19,375,216 shares in the company, valued at approximately $126,713,912.64. This trade represents a 0.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 850,000 shares of company stock valued at $5,582,049. Corporate insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On Genius Sports

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

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.