Genius Sports (NYSE:GENI) Trading Down 4.3% – What’s Next?

Genius Sports Limited (NYSE:GENI) traded down 4.3% on Wednesday . The stock traded as low as $6.49 and last traded at $6.5720. Approximately 3,163,495 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 6,295,694 shares. The stock had previously closed at $6.87.

Analyst Upgrades and Downgrades

GENI has been the topic of several analyst reports. Wall Street Zen downgraded Genius Sports from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Stifel Nicolaus decreased their price target on Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Roth Mkm set a $10.00 price target on Genius Sports in a report on Friday, May 8th. Benchmark reaffirmed a “buy” rating on shares of Genius Sports in a research report on Thursday, March 5th. Finally, Oppenheimer dropped their price objective on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.68.

Genius Sports Price Performance

The stock has a 50-day moving average price of $5.16 and a 200-day moving average price of $6.97. The firm has a market capitalization of $1.50 billion, a PE ratio of -9.99 and a beta of 1.90.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The business had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, equities research analysts predict that Genius Sports Limited will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings 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 in the last quarter. Cetera Investment Advisers raised its stake in shares of Genius Sports by 10.0% in the 2nd quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock valued at $159,000 after purchasing an additional 1,388 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Genius Sports in the 2nd quarter valued at about $266,000. Invesco Ltd. lifted its position in shares of Genius Sports by 3,584.2% during the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock worth $34,233,000 after purchasing an additional 3,202,290 shares during the last quarter. Finally, Frontier Capital Management Co. LLC bought a new position in shares of Genius Sports during the second quarter worth about $14,220,000. 81.91% of the stock is owned by institutional investors and hedge funds.

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.