Genius Sports (NYSE:GENI) Trading Down 7.1% – Here’s Why

Genius Sports Limited (NYSE:GENI) fell 7.1% during trading on Monday . The stock traded as low as $7.84 and last traded at $7.7870. 955,677 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 6,401,086 shares. The stock had previously closed at $8.38.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GENI. Guggenheim lifted their target price on shares of Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Truist Financial decreased their price target on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. B. Riley Financial restated a “buy” rating on shares of Genius Sports in a research report on Friday, May 8th. Freedom Capital raised shares of Genius Sports to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Stifel Nicolaus increased their price objective on shares of Genius Sports from $5.00 to $7.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Price Performance

The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s fifty day moving average is $6.79 and its 200-day moving average is $5.86. The stock has a market cap of $1.85 billion, a PE ratio of -11.04 and a beta of 1.90.

Genius Sports (NYSE:GENI) last issued its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). The firm had revenue of $195.50 million for the quarter, compared to analysts’ expectations of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.Genius Sports’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. As a group, equities analysts anticipate that Genius Sports Limited will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GENI. Royal Bank of Canada lifted its holdings in shares of Genius Sports by 17.6% in 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 during the last quarter. Cetera Investment Advisers increased its holdings in 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 during the last quarter. Prudential Financial Inc. purchased a new stake in Genius Sports in the second quarter valued at approximately $266,000. Invesco Ltd. raised its position in Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after purchasing an additional 3,202,290 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new position in Genius Sports during the second quarter worth $14,220,000. 81.91% of the stock is currently 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.