Genius Sports (NYSE:GENI) Upgraded at Zacks Research

Zacks Research upgraded shares of Genius Sports (NYSE:GENI) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks reports.

A number of other equities research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Genius Sports from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 29th. BTIG Research boosted their price target on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC upped their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Benchmark reiterated a “buy” rating on shares of Genius Sports in a research note on Friday, August 28th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $10.50 price target on shares of Genius Sports in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.25.

Genius Sports Trading Up 4.9%

NYSE GENI opened at $6.65 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. Genius Sports has a twelve month low of $3.83 and a twelve month high of $12.39. The firm has a market capitalization of $1.64 billion, a PE ratio of -9.78 and a beta of 1.91. The stock’s 50 day moving average is $7.07 and its 200 day moving average is $6.04.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) 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 firm had revenue of $195.50 million during the quarter, compared to the consensus estimate of $184.43 million. During the same quarter last year, the company posted ($0.21) EPS. Genius Sports’s revenue for the quarter was up 64.7% compared to the same quarter last year. Research analysts forecast that Genius Sports will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Genius Sports

In related news, CEO Mark Locke sold 477,449 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $6.58, for a total value of $3,141,614.42. Following the sale, the chief executive officer owned 19,697,767 shares in the company, valued at approximately $129,611,306.86. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas Russell sold 50,000 shares of Genius Sports stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the sale, the insider directly owned 471,467 shares of the company’s stock, valued at approximately $3,069,250.17. This trade represents a 9.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 850,000 shares of company stock valued at $5,582,049 over the last three months. 16.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Genius Sports

Hedge funds and other institutional investors have recently modified their holdings of the company. Senvest Management LLC boosted its position in 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 during the last quarter. Voss Capital LP increased its position 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 purchasing an additional 2,900,000 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of Genius Sports by 510.9% in the 1st quarter. WCM Investment Management LLC now owns 2,917,437 shares of the company’s stock worth $12,370,000 after purchasing an additional 2,439,890 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Genius Sports in the 1st quarter worth approximately $9,636,000. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Genius Sports by 35.1% in the first quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock worth $33,661,000 after buying an additional 1,974,043 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

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.