Zacks Research Downgrades Genius Sports (NYSE:GENI) to Strong Sell

Genius Sports (NYSE:GENI) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Guggenheim boosted their price target on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 6th. BTIG Research increased their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Stifel Nicolaus lifted their price objective on shares of Genius Sports from $5.00 to $7.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Freedom Capital raised shares of Genius Sports to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Citigroup lowered their target price on Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.44.

Genius Sports Stock Performance

Shares of Genius Sports stock opened at $7.74 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10. The stock’s fifty day moving average price is $6.63 and its 200-day moving average price is $5.92. The firm has a market cap of $1.91 billion, a P/E ratio of -11.38 and a beta of 1.90. Genius Sports has a 12 month low of $3.83 and a 12 month high of $13.73.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The business had revenue of $195.50 million during the quarter, compared to analysts’ expectations of $184.43 million. During the same period last year, the company earned ($0.21) earnings per share. The firm’s revenue was up 64.7% compared to the same quarter last year. On average, equities research analysts expect that Genius Sports will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Several hedge funds have recently modified their holdings of the company. Lexington Hill Partners LLC bought a new stake in shares of Genius Sports in the 2nd quarter valued at about $64,000. Moody National Bank Trust Division raised its stake in shares of Genius Sports by 32.9% during the 2nd quarter. Moody National Bank Trust Division now owns 589,959 shares of the company’s stock worth $3,575,000 after acquiring an additional 146,044 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Genius Sports by 29.1% during the 1st quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock worth $68,000 after acquiring an additional 3,440 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of Genius Sports during the 1st quarter worth approximately $25,000. Finally, Ritter Alpha LP purchased a new stake in Genius Sports during the first quarter valued at approximately $77,000. 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.