Genius Sports (NYSE:GENI) Raised to Hold at Zacks Research

Genius Sports (NYSE:GENI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other research firms have also recently issued reports on GENI. Benchmark reiterated a “buy” rating on shares of Genius Sports in a research report on Friday, August 28th. Oppenheimer boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Genius Sports from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 29th. Freedom Capital upgraded Genius Sports to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Weiss Ratings raised Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Genius Sports presently has a consensus rating of “Moderate Buy” and an average price target of $11.25.

Genius Sports Stock Up 2.8%

Shares of NYSE GENI opened at $6.39 on Tuesday. 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 company has a market cap of $1.57 billion, a price-to-earnings ratio of -9.40 and a beta of 1.91. Genius Sports has a 12 month low of $3.83 and a 12 month high of $12.39. The stock has a 50-day moving average price of $7.08 and a two-hundred day moving average price of $6.02.

Genius Sports (NYSE:GENI) last posted its earnings results on Friday, August 7th. The company reported ($0.28) EPS 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 company had revenue of $195.50 million during the quarter, compared to the consensus estimate of $184.43 million. During the same period last year, the company posted ($0.21) EPS. The firm’s revenue was up 64.7% compared to the same quarter last year. As a group, analysts forecast that Genius Sports will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Genius Sports

In other Genius Sports news, CEO Mark Locke sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.54, for a total transaction of $327,000.00. Following the sale, the chief executive officer directly owned 19,375,216 shares of the company’s stock, valued at $126,713,912.64. The trade was a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas Russell sold 50,000 shares of the company’s 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 of the company’s stock, valued at approximately $3,069,250.17. This trade represents a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 850,000 shares of company stock worth $5,582,049. 16.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds have recently modified their holdings of the business. Moody National Bank Trust Division grew its stake in shares of Genius Sports by 12.9% in the third quarter. Moody National Bank Trust Division now owns 665,999 shares of the company’s stock worth $3,816,000 after purchasing an additional 76,040 shares during the last quarter. Park National Corp OH bought a new position in Genius Sports during the 3rd quarter worth $84,000. WINTON GROUP Ltd bought a new position in Genius Sports during the 2nd quarter worth $1,120,000. Corient Private Wealth LP bought a new position in Genius Sports during the 2nd quarter worth $83,000. Finally, Odyssean LLC lifted its holdings in Genius Sports by 61.3% during the 2nd quarter. Odyssean LLC now owns 230,581 shares of the company’s stock worth $1,397,000 after buying an additional 87,604 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports Limited is a sports data, technology and media company that provides services to sports leagues, federations, teams, betting operators, broadcasters and brands. The company collects, manages and distributes official sports data, including live scores, statistics, schedules and related content, to support digital products, broadcasts and sports betting applications.

Its offerings include live data and odds solutions for betting operators, sports video and streaming services, fan-engagement tools, digital marketing and advertising technology, and sports integrity services designed to help organizations monitor competitions and protect against certain forms of betting-related misconduct.