Genius Sports (NYSE:GENI) Shares Up 7.4% – Time to Buy?

Shares of Genius Sports Limited (NYSE:GENI) traded up 7.4% during mid-day trading on Thursday. The stock traded as high as $6.47 and last traded at $6.5840. 766,196 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 6,429,810 shares. The stock had previously closed at $6.13.

Analysts Set New Price Targets

GENI has been the topic of several analyst reports. Weiss Ratings upgraded Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Benchmark reaffirmed a “buy” rating on shares of Genius Sports in a research note on Friday, August 28th. JPMorgan Chase & Co. began coverage on Genius Sports in a research report on Friday, September 25th. They issued an “overweight” rating and a $8.00 price objective on the stock. Roth Capital reaffirmed a “buy” rating and issued a $12.00 price target on shares of Genius Sports in a research note on Friday, August 7th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $10.50 price objective on shares of Genius Sports 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, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.25.

Genius Sports Price Performance

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’s fifty day moving average price is $6.98 and its 200 day moving average price is $6.09. The stock has a market cap of $1.59 billion, a PE ratio of -9.52 and a beta of 1.91.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.21). The firm had revenue of $195.50 million for the quarter, compared to analysts’ expectations of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%. The firm’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.21) earnings per share. As a group, equities analysts expect that Genius Sports Limited will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mark Locke sold 50,000 shares of Genius Sports stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $6.54, for a total transaction of $327,000.00. Following the completion of the sale, the chief executive officer owned 19,375,216 shares in the company, valued at approximately $126,713,912.64. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Russell 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 $6.51, for a total transaction of $325,500.00. Following the transaction, the insider directly 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 SEC filing for this sale provides additional information. Insiders sold 850,000 shares of company stock valued at $5,582,049 over the last ninety days. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Moody National Bank Trust Division increased its stake in Genius Sports by 12.9% in the 3rd quarter. Moody National Bank Trust Division now owns 665,999 shares of the company’s stock valued at $3,816,000 after buying an additional 76,040 shares during the period. Park National Corp OH bought a new stake in shares of Genius Sports in the 3rd quarter valued at approximately $84,000. WINTON GROUP Ltd bought a new stake in shares of Genius Sports during the second quarter worth $1,120,000. Corient Private Wealth LP acquired a new stake in shares of Genius Sports in the second quarter valued at approximately $83,000. Finally, Odyssean LLC raised its stake in shares of Genius Sports by 61.3% during 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 last quarter. Institutional investors 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.