Genius Sports (NYSE:GENI) Sees Large Volume Increase – Here’s What Happened

Shares of Genius Sports Limited (NYSE:GENI) saw unusually-strong trading volume on Thursday . Approximately 5,477,730 shares changed hands during mid-day trading, an increase of 23% from the previous session’s volume of 4,464,125 shares.The stock last traded at $6.9040 and had previously closed at $8.54.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GENI. Weiss Ratings restated a “sell (d-)” rating on shares of Genius Sports in a report on Monday, December 29th. Wells Fargo & Company raised Genius Sports from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $16.00 in a research note on Friday, January 9th. Zacks Research raised Genius Sports from a “strong sell” rating to a “hold” rating in a report on Thursday, December 4th. UBS Group set a $16.00 price target on Genius Sports in a research report on Monday, December 8th. Finally, Guggenheim set a $17.00 price target on Genius Sports in a research note on Thursday, December 4th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Genius Sports Price Performance

The firm has a market cap of $1.35 billion, a PE ratio of -13.18 and a beta of 1.85. The business has a fifty day moving average price of $10.29 and a two-hundred day moving average price of $11.24.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). Genius Sports had a negative return on equity of 14.39% and a negative net margin of 19.71%.The business had revenue of $166.28 million for the quarter, compared to analyst estimates of $156.24 million. As a group, sell-side analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GENI. Wellington Management Group LLP lifted its position in Genius Sports by 17.9% in the 3rd quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock worth $167,298,000 after buying an additional 2,051,503 shares in the last quarter. Cooper Creek Partners Management LLC increased its stake in shares of Genius Sports by 9.6% in the second quarter. Cooper Creek Partners Management LLC now owns 9,191,865 shares of the company’s stock worth $95,595,000 after acquiring an additional 806,233 shares during the last quarter. Senvest Management LLC raised its holdings in shares of Genius Sports by 1.4% during the second quarter. Senvest Management LLC now owns 7,813,156 shares of the company’s stock worth $81,257,000 after acquiring an additional 107,083 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Genius Sports by 3.3% during the second quarter. Hood River Capital Management LLC now owns 6,811,333 shares of the company’s stock worth $70,838,000 after acquiring an additional 215,384 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Genius Sports by 82.7% during the third quarter. Westfield Capital Management Co. LP now owns 5,850,083 shares of the company’s stock valued at $72,424,000 after purchasing an additional 2,647,948 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.