Genius Sports (NYSE:GENI) Hits New 12-Month Low – Should You Sell?

Genius Sports Limited (NYSE:GENI) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $4.92 and last traded at $4.9270, with a volume of 792919 shares traded. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Genius Sports from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Truist Financial decreased their target price on shares of Genius Sports from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Stifel Nicolaus cut their price target on shares of Genius Sports from $10.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, February 19th. UBS Group reiterated a “buy” rating on shares of Genius Sports in a research report on Wednesday, March 4th. Finally, New Street Research set a $17.00 price objective on shares of Genius Sports in a research note on Thursday, December 4th. Three 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.84.

Genius Sports Stock Down 2.1%

The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -11.36 and a beta of 1.91. The company has a 50 day simple moving average of $7.44 and a 200 day simple moving average of $9.97.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The company 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 revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) earnings per share. As a group, analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada grew 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 last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Genius Sports by 40.8% during the second quarter. Envestnet Asset Management Inc. now owns 68,875 shares of the company’s stock valued at $716,000 after purchasing an additional 19,971 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Genius Sports by 326.5% during the second quarter. ProShare Advisors LLC now owns 73,072 shares of the company’s stock valued at $760,000 after purchasing an additional 55,940 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Genius Sports by 8.3% during the second quarter. PNC Financial Services Group Inc. now owns 33,120 shares of the company’s stock worth $344,000 after purchasing an additional 2,532 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in shares of Genius Sports in the second quarter valued at approximately $27,312,000. 81.91% of the stock is currently owned by 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.