Genius Sports (NYSE:GENI) Shares Up 4.7% – Here’s Why

Genius Sports Limited (NYSE:GENI)’s share price rose 4.7% during trading on Monday . The stock traded as high as $6.46 and last traded at $6.48. 238,037 shares were traded during mid-day trading, a decline of 96% from the average session volume of 6,269,475 shares. The stock had previously closed at $6.19.

Analysts Set New Price Targets

A number of analysts recently commented on GENI shares. Roth Capital set a $10.00 price objective on Genius Sports in a research note on Friday, May 8th. BTIG Research reduced their target price on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research note on Monday, May 11th. They set a “buy” rating and a $10.00 price target on the stock. Wall Street Zen downgraded shares of Genius Sports from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Finally, B. Riley Financial reissued a “buy” rating on shares of Genius Sports in a research report on Friday, May 8th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Genius Sports Stock Performance

The company’s fifty day moving average price is $5.80 and its two-hundred day moving average price is $6.40. The firm has a market capitalization of $1.58 billion, a PE ratio of -10.53 and a beta of 1.91.

Genius Sports (NYSE:GENI) last released its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (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 company had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Genius Sports’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, equities analysts expect that Genius Sports Limited will post -0.12 earnings per share for the current year.

Institutional Trading of Genius Sports

A number of institutional investors and hedge funds have recently made changes to their positions in GENI. JPMorgan Chase & Co. increased its position in shares of Genius Sports by 79.5% in the third quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock worth $16,009,000 after acquiring an additional 572,607 shares in the last quarter. Penn Capital Management Company LLC raised its stake in shares of Genius Sports by 2,593.7% in 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 acquiring an additional 1,174,431 shares during the period. Quent Capital LLC acquired a new position in shares of Genius Sports during the 4th quarter valued at $2,840,000. UBS Group AG lifted its holdings in shares of 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 acquiring an additional 1,235,352 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Genius Sports by 65.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company’s stock worth $17,321,000 after purchasing an additional 1,549,816 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Company Profile

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.