Genius Sports (NYSE:GENI) Trading 3.5% Higher – Still a Buy?

Genius Sports Limited (NYSE:GENI)’s stock price was up 3.5% during trading on Thursday . The company traded as high as $9.94 and last traded at $9.99. Approximately 490,449 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,485,925 shares. The stock had previously closed at $9.65.

Wall Street Analyst Weigh In

GENI has been the subject of a number of analyst reports. Needham & Company LLC set a $13.00 price objective on Genius Sports in a research note on Wednesday, March 5th. B. Riley initiated coverage on Genius Sports in a research report on Tuesday. They issued a “buy” rating for the company. Benchmark upped their target price on Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Lake Street Capital raised their price target on Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, Craig Hallum set a $15.00 price objective on shares of Genius Sports in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.23.

Genius Sports Stock Performance

The firm has a market cap of $2.14 billion, a PE ratio of -30.99 and a beta of 2.14. The stock has a 50 day simple moving average of $9.12 and a two-hundred day simple moving average of $8.55.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The company had revenue of $175.53 million during the quarter, compared to analyst estimates of $175.52 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same period in the previous year, the firm posted ($0.10) earnings per share. Equities research analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Genius Sports by 14.2% during the 4th quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock worth $112,038,000 after acquiring an additional 1,610,078 shares in the last quarter. Wellington Management Group LLP boosted its position in Genius Sports by 2.9% during the third quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after purchasing an additional 230,209 shares in the last quarter. Granahan Investment Management LLC grew its holdings in Genius Sports by 0.8% in the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company’s stock valued at $68,886,000 after purchasing an additional 64,752 shares during the period. Voss Capital LP increased its position in shares of Genius Sports by 16.7% in the fourth quarter. Voss Capital LP now owns 7,923,432 shares of the company’s stock valued at $68,538,000 after buying an additional 1,134,029 shares in the last quarter. Finally, Senvest Management LLC increased its position in shares of Genius Sports by 12.2% in the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after buying an additional 819,385 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.