Genius Sports (NYSE:GENI) Trading 4.7% Higher – Here’s Why

Genius Sports Limited (NYSE:GENI) shares shot up 4.7% on Monday . The company traded as high as $6.46 and last traded at $6.48. Approximately 238,037 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 6,269,475 shares. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

GENI has been the subject of several recent research reports. Wall Street Zen lowered shares of Genius Sports from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Truist Financial reduced their price objective on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Stifel Nicolaus lowered their price objective on Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. B. Riley Financial reissued a “buy” rating on shares of Genius Sports in a report on Friday, May 8th. Finally, Roth Capital set a $10.00 target price on Genius Sports in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.50.

Genius Sports Trading Up 6.4%

The stock has a 50 day simple moving average of $5.72 and a 200-day simple moving average of $6.46. The firm has a market capitalization of $1.62 billion, a P/E ratio of -10.80 and a beta of 1.91.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). The business had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. As a group, sell-side analysts expect that Genius Sports Limited will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. TimesSquare Capital Management LLC bought a new position in shares of Genius Sports in the fourth quarter worth approximately $59,851,000. Senvest Management LLC increased its stake in shares of Genius Sports by 45.1% in the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after purchasing an additional 4,243,157 shares in the last quarter. Invesco Ltd. raised its position in shares of Genius Sports by 3,584.2% during the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after purchasing an additional 3,202,290 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Genius Sports by 785.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company’s stock valued at $36,248,000 after purchasing an additional 2,917,830 shares during the period. Finally, Voss Capital LP lifted its stake in shares of Genius Sports by 35.4% during the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock valued at $122,322,000 after buying an additional 2,900,000 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.