Mark Locke Sells 272,551 Shares of Genius Sports (NYSE:GENI) Stock

Genius Sports Limited (NYSE:GENI) CEO Mark Locke sold 272,551 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $6.56, for a total transaction of $1,787,934.56. Following the completion of the transaction, the chief executive officer directly owned 19,425,216 shares of the company’s stock, valued at approximately $127,429,416.96. This represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mark Locke also recently made the following trade(s):

• On Thursday, September 17th, Mark Locke sold 50,000 shares of Genius Sports stock. The stock was sold at an average price of $6.54, for a total transaction of $327,000.00.
• On Tuesday, September 15th, Mark Locke sold 477,449 shares of Genius Sports stock. The stock was sold at an average price of $6.58, for a total transaction of $3,141,614.42.

Genius Sports Trading Down 2.1%

GENI traded down $0.14 during trading on Thursday, hitting $6.48. The company’s stock had a trading volume of 7,189,063 shares, compared to its average volume of 4,524,462. The firm’s 50 day moving average price is $7.25 and its 200-day moving average price is $5.97. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $1.60 billion, a PE ratio of -9.54 and a beta of 1.88. Genius Sports Limited has a twelve month low of $3.83 and a twelve month high of $13.69.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share 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 for the quarter, compared to analysts’ expectations of $184.43 million. During the same period in the prior year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 64.7% compared to the same quarter last year. On average, analysts expect that Genius Sports Limited will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on GENI. Stifel Nicolaus raised their price target on Genius Sports from $5.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $10.50 price objective on shares of Genius Sports in a research note on Friday, August 7th. Needham & Company LLC boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a 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 report on Friday, August 7th. Finally, Weiss Ratings raised shares of Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Genius Sports has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Hedge Funds Weigh In On Genius Sports

A number of large investors have recently modified their holdings of the company. Parallel Advisors LLC acquired a new position in shares of Genius Sports in the 1st quarter valued at about $25,000. Baer Investment Advisory LLC acquired a new stake in Genius Sports during the 1st quarter worth approximately $61,000. Lexington Hill Partners LLC acquired a new stake in Genius Sports during the 2nd quarter worth approximately $64,000. Pacer Advisors Inc. raised its holdings in Genius Sports by 29.1% in the first quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock valued at $68,000 after buying an additional 3,440 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Genius Sports by 24.1% in the first quarter. Principal Financial Group Inc. now owns 16,038 shares of the company’s stock valued at $71,000 after buying an additional 3,114 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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.