Genius Sports (NYSE:GENI) Hits New 52-Week Low – Here’s What Happened

Genius Sports Limited (NYSE:GENI)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.19 and last traded at $4.2050, with a volume of 1541476 shares. The stock had previously closed at $4.33.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GENI. Zacks Research raised Genius Sports from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. B. Riley Financial restated a “buy” rating on shares of Genius Sports in a report on Friday, February 6th. Oppenheimer dropped their target price on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Benchmark reiterated a “buy” rating on shares of Genius Sports in a research note on Thursday, March 5th. Finally, Truist Financial reduced their price target on shares of Genius Sports from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Genius Sports presently has an average rating of “Moderate Buy” and a consensus price target of $12.84.

Genius Sports Trading Down 2.4%

The business’s fifty day moving average price is $6.53 and its 200 day moving average price is $9.50. The firm has a market capitalization of $909.34 million, a price-to-earnings ratio of -9.83 and a beta of 1.91.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The business had revenue of $240.50 million for the quarter, compared to analyst estimates of $234.94 million. During the same quarter in the prior year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis. As a group, sell-side analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of 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 buying an additional 6,623 shares in the last quarter. Cetera Investment Advisers grew its holdings in Genius Sports by 10.0% during the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after acquiring an additional 1,388 shares during the period. Legal & General Group Plc raised its position in Genius Sports by 20.0% in the second quarter. Legal & General Group Plc now owns 526,798 shares of the company’s stock worth $5,476,000 after acquiring an additional 87,737 shares in the last quarter. Rhumbline Advisers purchased a new position in Genius Sports in the second quarter worth $3,152,000. Finally, Prudential Financial Inc. acquired a new stake in Genius Sports in the second quarter valued at $266,000. 81.91% of the stock is owned by institutional investors and hedge funds.

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.