Genius Sports (NYSE:GENI) Stock Price Down 18.8% Following Weak Earnings

Genius Sports Limited (NYSE:GENI)’s stock price fell 18.8% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $5.74 and last traded at $5.6950. Approximately 9,165,446 shares changed hands during trading, an increase of 42% from the average daily volume of 6,444,464 shares. The stock had previously closed at $7.01.

The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%. The business had revenue of $269.86 million for the quarter, compared to the consensus estimate of $261.13 million. During the same quarter last year, the company earned ($0.11) earnings per share. The firm’s revenue was up 62.3% on a year-over-year basis.

Analyst Ratings Changes

A number of research analysts recently issued reports on GENI shares. Freedom Capital raised Genius Sports to a “strong-buy” rating in a report on Monday, July 20th. Benchmark reissued a “buy” rating on shares of Genius Sports in a report on Friday, August 28th. Guggenheim raised their price objective on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Stifel Nicolaus dropped their target price on shares of Genius Sports from $8.50 to $7.00 and set a “hold” rating for the company in a research note on Monday, October 26th. Finally, BTIG Research upped their target price on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Genius Sports currently has a consensus rating of “Moderate Buy” and an average price target of $11.03.

Insider Buying and Selling at Genius Sports

In related news, CEO Mark Locke sold 477,449 shares of Genius Sports stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $6.58, for a total value of $3,141,614.42. Following the completion of the sale, the chief executive officer directly owned 19,697,767 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Russell sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $6.51, for a total value of $325,500.00. Following the sale, the insider directly owned 471,467 shares of the company’s stock, valued at $3,069,250.17. This represents a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 850,000 shares of company stock worth $5,582,049 in the last ninety days. 16.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GENI. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Genius Sports during the 3rd quarter worth approximately $73,000. Kestra Advisory Services LLC bought a new stake in shares of Genius Sports during the third quarter worth approximately $121,000. Commonwealth Equity Services LLC lifted its holdings in Genius Sports by 81.0% in the third quarter. Commonwealth Equity Services LLC now owns 19,889 shares of the company’s stock valued at $114,000 after buying an additional 8,898 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in Genius Sports by 26.4% in the third quarter. Chicago Partners Investment Group LLC now owns 70,420 shares of the company’s stock valued at $446,000 after buying an additional 14,722 shares during the period. Finally, Integrity Alliance LLC. acquired a new position in Genius Sports in the third quarter valued at approximately $141,000. Institutional investors own 81.91% of the company’s stock.

Genius Sports Trading Down 19.6%

The stock has a market capitalization of $1.39 billion, a P/E ratio of -8.37 and a beta of 1.95. 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 business’s 50 day simple moving average is $6.60 and its 200-day simple moving average is $6.25.

Genius Sports Company Profile

Genius Sports Limited (NYSE: GENI) is a sports technology and data company that provides official sports data, technology, and digital media solutions. Its platform helps sports organizations collect, manage, and distribute live game data while supporting fan engagement and commercial activities.

The company supplies real-time data and related products to sportsbooks, media companies, sports leagues, teams, and brands. Its services include live statistics, betting data and trading solutions, streaming and video content, digital marketing, sponsorship activation, and tools designed to connect sports audiences with content and advertising.

Genius Sports serves customers across international sports markets, including North America, Europe, and other regions.