Genius Sports (NYSE:GENI) Trading Down 4.3% – What’s Next?

Genius Sports Limited (NYSE:GENI) dropped 4.3% during mid-day trading on Wednesday . The company traded as low as $6.49 and last traded at $6.5720. Approximately 3,163,495 shares traded hands during trading, a decline of 50% from the average daily volume of 6,295,694 shares. The stock had previously closed at $6.87.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GENI. Needham & Company LLC lowered their price objective on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wells Fargo & Company lowered their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Truist Financial lowered their price objective on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Roth Mkm set a $10.00 price objective on shares of Genius Sports in a report on Friday, May 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Genius Sports has a consensus rating of “Moderate Buy” and a consensus price target of $11.68.

Genius Sports Trading Down 7.1%

The stock’s fifty day moving average is $5.09 and its 200 day moving average is $7.03. The company has a market capitalization of $1.57 billion, a P/E ratio of -10.48 and a beta of 1.90.

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

Institutional Investors Weigh In On Genius Sports

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Genius Sports by 79.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock valued at $16,009,000 after buying an additional 572,607 shares during the last quarter. Penn Capital Management Company LLC raised its holdings in Genius Sports by 2,593.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock valued at $15,116,000 after buying an additional 1,174,431 shares during the last quarter. Quent Capital LLC bought a new stake in Genius Sports during the 4th quarter valued at $2,840,000. UBS Group AG raised its holdings in Genius Sports by 45.1% during the 4th quarter. UBS Group AG now owns 3,974,964 shares of the company’s stock valued at $43,804,000 after buying an additional 1,235,352 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Genius Sports by 82.7% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,850,083 shares of the company’s stock valued at $72,424,000 after buying an additional 2,647,948 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

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.