BTIG Research Reaffirms “Buy” Rating for Genius Sports (NYSE:GENI)

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating restated by analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They currently have a $16.00 target price on the stock. BTIG Research’s price target would indicate a potential upside of 159.87% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. Macquarie Infrastructure reissued an “outperform” rating and issued a $15.00 target price on shares of Genius Sports in a research report on Wednesday, November 5th. UBS Group set a $16.00 price objective on Genius Sports in a report on Monday, December 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Genius Sports in a report on Thursday, December 4th. B. Riley Financial reiterated a “buy” rating on shares of Genius Sports in a research report on Friday, February 6th. Finally, Northland Securities set a $12.00 price objective on Genius Sports in a research note on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.14.

Genius Sports Stock Performance

NYSE GENI opened at $6.16 on Thursday. The company has a market capitalization of $1.33 billion, a P/E ratio of -13.10 and a beta of 1.85. Genius Sports has a one year low of $6.00 and a one year high of $13.73. The stock has a 50 day moving average price of $9.88 and a 200-day moving average price of $11.08.

Institutional Investors Weigh In On Genius Sports

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in Genius Sports by 17.6% during the 1st quarter. Royal Bank of Canada now owns 44,339 shares of the company’s stock worth $444,000 after acquiring an additional 6,623 shares during the period. CWM LLC increased its position in Genius Sports by 275.5% during the 2nd quarter. CWM LLC now owns 3,980 shares of the company’s stock worth $41,000 after purchasing an additional 2,920 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Genius Sports by 33.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,888,686 shares of the company’s stock worth $29,176,000 after buying an additional 726,843 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Genius Sports in the second quarter valued at $75,000. Finally, Cookson Peirce & Co. Inc. lifted its stake in shares of Genius Sports by 4.5% in the second quarter. Cookson Peirce & Co. Inc. now owns 335,538 shares of the company’s stock valued at $3,490,000 after purchasing an additional 14,438 shares during the period. 81.91% of the stock is owned by hedge funds and other 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.