Genius Sports (NYSE:GENI) Shares Up 6.7% – Should You Buy?

Genius Sports Limited (NYSE:GENI)’s stock price shot up 6.7% during mid-day trading on Friday . The company traded as high as $5.76 and last traded at $5.8060. Approximately 801,489 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 6,380,544 shares. The stock had previously closed at $5.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GENI shares. Oppenheimer cut their target price on Genius Sports from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. B. Riley Financial restated a “buy” rating on shares of Genius Sports in a research report on Friday, May 8th. Truist Financial cut their price objective on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Needham & Company LLC reduced their target price on Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings cut Genius Sports from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Genius Sports currently has an average rating of “Moderate Buy” and a consensus price target of $11.68.

Genius Sports Price Performance

The company’s 50-day moving average is $5.33 and its 200-day moving average is $6.80. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -9.98 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 the consensus estimate of ($0.09) by ($0.12). The company had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. Sell-side analysts anticipate that Genius Sports Limited will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently made changes to their positions in GENI. Senvest Management LLC lifted its stake in shares of Genius Sports by 45.1% during the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after purchasing an additional 4,243,157 shares in the last quarter. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 2,051,503 shares during the period. Voss Capital LP boosted its holdings in Genius Sports by 35.4% in the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock worth $122,322,000 after acquiring an additional 2,900,000 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of Genius Sports by 35.1% during the first quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock valued at $33,661,000 after purchasing an additional 1,974,043 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in Genius Sports by 1.7% during the 4th quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company’s stock worth $65,582,000 after buying an additional 101,120 shares during the period. 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.