Genius Sports (NYSE:GENI) Stock Price Up 7.5% – Should You Buy?

Genius Sports Limited (NYSE:GENI) rose 7.5% during mid-day trading on Tuesday . The company traded as high as $9.19 and last traded at $9.19. Approximately 949,033 shares were traded during trading, a decline of 56% from the average daily volume of 2,152,979 shares. The stock had previously closed at $8.55.

Wall Street Analyst Weigh In

GENI has been the subject of a number of research analyst reports. Citizens Jmp downgraded shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Macquarie raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Citigroup raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Benchmark raised their price objective on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, JMP Securities reiterated a “market perform” rating and issued a $11.00 target price on shares of Genius Sports in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Genius Sports presently has a consensus rating of “Moderate Buy” and an average price target of $10.94.

Genius Sports Price Performance

The firm’s 50 day moving average is $8.99 and its 200 day moving average is $7.71. The company has a market cap of $2.11 billion, a PE ratio of -28.78 and a beta of 2.15.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Genius Sports’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.06) earnings per share. As a group, analysts anticipate that Genius Sports Limited will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Genius Sports

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of Genius Sports by 2.9% in the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after acquiring an additional 230,209 shares during the last quarter. Senvest Management LLC increased its stake in shares of Genius Sports by 12.2% in the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after buying an additional 819,385 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Genius Sports by 10.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock worth $58,959,000 after buying an additional 691,539 shares during the period. FMR LLC increased its stake in shares of Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after buying an additional 2,507,165 shares during the period. Finally, Portolan Capital Management LLC increased its stake in shares of Genius Sports by 9.4% in the third quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock worth $24,860,000 after buying an additional 272,545 shares during the period. 81.91% of the stock is currently owned by institutional investors.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.