Genius Sports (NYSE:GENI) Trading 3.5% Higher – Here’s Why

Genius Sports Limited (NYSE:GENI)’s share price rose 3.5% during trading on Thursday . The stock traded as high as $9.94 and last traded at $9.99. Approximately 490,449 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 2,485,925 shares. The stock had previously closed at $9.65.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GENI. Needham & Company LLC set a $13.00 target price on Genius Sports in a research note on Wednesday, March 5th. Guggenheim assumed coverage on shares of Genius Sports in a research report on Tuesday. They set a “buy” rating and a $12.00 price objective on the stock. Citigroup lifted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. The Goldman Sachs Group upped their target price on shares of Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Craig Hallum set a $15.00 price target on shares of Genius Sports in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.23.

Genius Sports Trading Up 3.1 %

The business’s 50 day simple moving average is $9.17 and its two-hundred day simple moving average is $8.58. The firm has a market capitalization of $2.23 billion, a PE ratio of -32.38 and a beta of 2.14.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The firm had revenue of $175.53 million for the quarter, compared to analysts’ expectations of $175.52 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same quarter last year, the company posted ($0.10) EPS. As a group, equities research analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

Institutional investors and hedge funds have recently made changes to their positions in the business. Divisadero Street Capital Management LP increased its holdings in Genius Sports by 32,386.5% during the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company’s stock valued at $30,723,000 after buying an additional 3,540,818 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Genius Sports during the 4th quarter valued at $24,712,000. FMR LLC increased its stake in shares of Genius Sports by 53.2% in the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Genius Sports in the 4th quarter worth $15,553,000. Finally, Capital Research Global Investors lifted its position in Genius Sports by 14.2% during the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock valued at $112,038,000 after purchasing an additional 1,610,078 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.