Genius Sports (NYSE:GENI) Trading 8.4% Higher – Here’s What Happened

Genius Sports Limited (NYSE:GENI) rose 8.4% during mid-day trading on Monday . The stock traded as high as $4.50 and last traded at $4.5970. Approximately 424,099 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 6,124,875 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

Several research firms have recently weighed in on GENI. BTIG Research decreased their price target 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. Needham & Company LLC decreased their target price on Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Roth Mkm set a $10.00 price target on Genius Sports in a research report on Friday, May 8th. Guggenheim decreased their price objective on shares of Genius Sports from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, Oppenheimer dropped their target price on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Three research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.68.

Genius Sports Stock Up 17.3%

The firm has a market capitalization of $1.23 billion, a P/E ratio of -8.16 and a beta of 1.80. The business’s 50-day simple moving average is $4.60 and its 200 day simple moving average is $7.68.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data 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). The business had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. Genius Sports’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. Sell-side analysts predict that Genius Sports Limited will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

A number of large investors have recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC raised its stake in shares of Genius Sports by 15.6% during the first quarter. Infrastructure Capital Advisors LLC now owns 26,000 shares of the company’s stock valued at $115,000 after acquiring an additional 3,500 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Genius Sports by 274.3% during the 1st quarter. Quantinno Capital Management LP now owns 102,534 shares of the company’s stock valued at $454,000 after buying an additional 75,142 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Genius Sports in the first quarter worth about $137,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Genius Sports in the 1st quarter worth approximately $1,772,000. Finally, Senvest Management LLC increased its holdings in shares of Genius Sports by 45.1% during the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock valued at $60,486,000 after acquiring an additional 4,243,157 shares in the last quarter. 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.