Genius Sports (NYSE:GENI) Hits New 12-Month High – Here’s Why

Genius Sports Limited (NYSE:GENI) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $10.37 and last traded at $10.36, with a volume of 3154750 shares traded. The stock had previously closed at $10.05.

Analyst Ratings Changes

GENI has been the subject of several recent research reports. Craig Hallum set a $15.00 price target on Genius Sports in a report on Tuesday, March 4th. Citigroup raised their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Citizens Jmp downgraded shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Lake Street Capital lifted their price target on shares of Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, B. Riley assumed coverage on shares of Genius Sports in a research report on Tuesday. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Genius Sports has a consensus rating of “Moderate Buy” and an average price target of $12.23.

Genius Sports Trading Up 3.6 %

The stock’s 50-day moving average is $9.14 and its 200-day moving average is $8.56. The stock has a market cap of $2.24 billion, a P/E ratio of -32.49 and a beta of 2.14.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). The firm 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 quarter last year, the company earned ($0.10) EPS. On average, equities analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.

Institutional Trading of Genius Sports

Large investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in shares of Genius Sports by 14.2% in the 4th quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock valued at $112,038,000 after purchasing an additional 1,610,078 shares during the period. Wellington Management Group LLP grew its position in Genius Sports by 2.9% during the 3rd 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 lifted its holdings in shares of 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 in the last quarter. Voss Capital LP boosted 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 worth $68,538,000 after buying an additional 1,134,029 shares during the period. Finally, Senvest Management LLC boosted 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 worth $59,167,000 after buying an additional 819,385 shares during the period. 81.91% of the stock is currently owned by institutional investors.

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.