Genius Sports (NYSE:GENI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Genius Sports (NYSE:GENI) from a strong sell rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently issued reports on GENI. Freedom Capital upgraded shares of Genius Sports to a “strong-buy” rating in a report on Monday, July 20th. Oppenheimer lifted their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Stifel Nicolaus lifted their price objective on Genius Sports from $5.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Benchmark reissued a “buy” rating on shares of Genius Sports in a research report on Friday, August 28th. Finally, BTIG Research increased their target price on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Genius Sports currently has an average rating of “Moderate Buy” and an average price target of $11.25.

Genius Sports Price Performance

Shares of Genius Sports stock opened at $6.58 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10. The firm has a fifty day simple moving average of $6.91 and a 200-day simple moving average of $6.14. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -9.67 and a beta of 1.91. Genius Sports has a 1-year low of $3.83 and a 1-year high of $12.16.

Genius Sports (NYSE:GENI) last posted its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). The firm had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) earnings per share. On average, sell-side analysts expect that Genius Sports will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Genius Sports

In other news, insider Thomas Russell sold 50,000 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the completion of the transaction, the insider owned 471,467 shares in the company, valued at approximately $3,069,250.17. This represents a 9.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Locke sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $6.54, for a total transaction of $327,000.00. Following the transaction, the chief executive officer directly owned 19,375,216 shares of the company’s stock, valued at $126,713,912.64. The trade was a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 850,000 shares of company stock worth $5,582,049 in the last three months. Insiders own 16.60% of the company’s stock.

Institutional Trading of Genius Sports

Several institutional investors have recently made changes to their positions in GENI. Parallel Advisors LLC acquired a new position in Genius Sports in the first quarter worth about $25,000. Lexington Hill Partners LLC bought a new position in Genius Sports during the second quarter worth about $64,000. State of Alaska Department of Revenue bought a new position in Genius Sports during the third quarter worth about $63,000. Corient Private Wealth LP acquired a new stake in Genius Sports during the second quarter valued at approximately $83,000. Finally, Baer Investment Advisory LLC acquired a new stake in Genius Sports during the first quarter valued at approximately $61,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

Genius Sports Limited is a sports data, technology and media company that provides services to sports leagues, federations, teams, betting operators, broadcasters and brands. The company collects, manages and distributes official sports data, including live scores, statistics, schedules and related content, to support digital products, broadcasts and sports betting applications.

Its offerings include live data and odds solutions for betting operators, sports video and streaming services, fan-engagement tools, digital marketing and advertising technology, and sports integrity services designed to help organizations monitor competitions and protect against certain forms of betting-related misconduct.