Genius Sports (NYSE:GENI) Stock Bumped Down to “Strong Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Genius Sports (NYSE:GENI) from a sell rating to a strong sell rating in a research note published on Tuesday morning,Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Stifel Nicolaus raised their price target 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. Citigroup restated a “market outperform” rating on shares of Genius Sports in a research report on Tuesday, September 8th. Oppenheimer upped their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Zacks Research lowered Genius Sports from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.25.

Genius Sports Stock Performance

Shares of NYSE:GENI opened at $6.15 on Tuesday. Genius Sports has a twelve month low of $3.83 and a twelve month high of $13.50. The firm has a market cap of $1.51 billion, a PE ratio of -9.04 and a beta of 1.88. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97. The business has a fifty day moving average of $7.18 and a 200-day moving average of $5.98.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). The business had revenue of $195.50 million during the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) earnings per share. On average, equities research analysts predict that Genius Sports will post -0.35 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mark Locke sold 477,449 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $6.58, for a total transaction of $3,141,614.42. Following the completion of the sale, the chief executive officer directly owned 19,697,767 shares of the company’s stock, valued at $129,611,306.86. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas Russell sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the transaction, the insider owned 471,467 shares in the company, valued at $3,069,250.17. This represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 850,000 shares of company stock worth $5,582,049 in the last ninety days. Insiders own 16.60% of the company’s stock.

Institutional Trading of Genius Sports

A number of institutional investors have recently bought and sold shares of GENI. Wellington Management Group LLP grew its stake in shares of Genius Sports by 11.0% during the second quarter. Wellington Management Group LLP now owns 1,714,882 shares of the company’s stock worth $10,392,000 after purchasing an additional 169,398 shares during the period. ABS Direct Equity Fund LLC bought a new stake in Genius Sports in the first quarter valued at about $1,772,000. Renaissance Technologies LLC increased its holdings in Genius Sports by 277.0% in the first quarter. Renaissance Technologies LLC now owns 2,197,700 shares of the company’s stock valued at $9,736,000 after purchasing an additional 1,614,700 shares during the last quarter. IFC Advisors LLC lifted its stake in Genius Sports by 23.2% in the first quarter. IFC Advisors LLC now owns 3,583,833 shares of the company’s stock valued at $15,876,000 after buying an additional 676,034 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Genius Sports by 65.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company’s stock valued at $17,321,000 after buying an additional 1,549,816 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Genius Sports

Genius Sports Limited (NYSE:GENI) is a sports technology and data company that provides official sports data, technology, and digital services to sports leagues, federations, teams, broadcasters, sportsbooks, and brands. Its platforms help clients collect, manage, distribute, and commercialize live sports information across digital channels.

The company’s offerings include live scores and statistics, data feeds for sports betting, fan-engagement tools, video streaming and content services, and advertising and sponsorship technology.