Genius Sports (NYSE:GENI) Trading 9.6% Higher – What’s Next?

Shares of Genius Sports Limited (NYSE:GENI) traded up 9.6% during mid-day trading on Wednesday . The stock traded as high as $4.59 and last traded at $4.6820. 1,177,264 shares traded hands during trading, a decline of 81% from the average session volume of 6,342,042 shares. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stifel Nicolaus cut their target price on Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Citigroup cut their target price on Genius Sports from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Genius Sports in a research note on Friday, March 27th. Benchmark reissued a “buy” rating on shares of Genius Sports in a research note on Thursday, March 5th. Finally, Wells Fargo & Company cut their target price on Genius Sports from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.63.

Genius Sports Price Performance

The stock has a 50 day moving average price of $5.23 and a two-hundred day moving average price of $8.74. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -11.08 and a beta of 2.08.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The firm had revenue of $240.50 million during the quarter, compared to analyst estimates of $234.94 million. Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) earnings per share. As a group, research analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in Genius Sports by 17.9% in the third quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock valued at $167,298,000 after purchasing an additional 2,051,503 shares during the period. Voss Capital LP boosted its holdings in Genius Sports by 35.4% in the fourth 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 period. Senvest Management LLC boosted its holdings in Genius Sports by 13.7% in the fourth quarter. Senvest Management LLC now owns 9,410,567 shares of the company’s stock valued at $103,704,000 after purchasing an additional 1,135,577 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Genius Sports by 1.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company’s stock valued at $65,582,000 after purchasing an additional 101,120 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in Genius Sports by 68.9% in the fourth quarter. Stephens Investment Management Group LLC now owns 5,624,316 shares of the company’s stock valued at $61,980,000 after purchasing an additional 2,293,847 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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.