Genius Sports (NYSE:GENI) Stock Rating Upgraded by Wall Street Zen

Genius Sports (NYSE:GENI) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in on GENI. Citigroup reiterated a “market outperform” rating on shares of Genius Sports in a research note on Thursday, October 8th. Oppenheimer boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Wells Fargo & Company restated an “equal weight” rating and set a $8.00 target price on shares of Genius Sports in a research report on Friday, August 7th. Freedom Capital raised shares of Genius Sports to a “strong-buy” rating in a report on Monday, July 20th. Finally, Guggenheim increased their price target on Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.25.

Genius Sports Price Performance

Shares of NYSE:GENI opened at $6.35 on Friday. Genius Sports has a twelve month low of $3.83 and a twelve month high of $12.16. The company’s 50 day moving average is $6.93 and its 200 day moving average is $6.12. 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 company has a market cap of $1.56 billion, a PE ratio of -9.33 and a beta of 1.91.

Genius Sports (NYSE:GENI) last posted its quarterly 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). Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%. The business had revenue of $195.50 million for the quarter, compared to analysts’ expectations of $184.43 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. On average, sell-side analysts forecast that Genius Sports will post -0.35 EPS for the current year.

Insider Activity at Genius Sports

In other news, insider Thomas Russell sold 50,000 shares of Genius Sports stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the transaction, the insider directly owned 471,467 shares of the company’s stock, valued at $3,069,250.17. The trade was a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Locke sold 50,000 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $6.54, for a total transaction of $327,000.00. Following the completion of the transaction, the chief executive officer owned 19,375,216 shares of the company’s stock, valued at approximately $126,713,912.64. This represents a 0.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 850,000 shares of company stock worth $5,582,049. Insiders own 16.60% of the company’s stock.

Institutional Trading of Genius Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Robertson Stephens Wealth Management LLC increased its position in shares of Genius Sports by 10.4% in the third quarter. Robertson Stephens Wealth Management LLC now owns 651,135 shares of the company’s stock valued at $3,731,000 after buying an additional 61,395 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Genius Sports during the 3rd quarter worth approximately $63,000. Moody National Bank Trust Division raised its stake in shares of Genius Sports by 12.9% during the 3rd quarter. Moody National Bank Trust Division now owns 665,999 shares of the company’s stock worth $3,816,000 after buying an additional 76,040 shares during the period. Park National Corp OH acquired a new position in shares of Genius Sports during the 3rd quarter worth approximately $84,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Genius Sports during the 2nd quarter valued at approximately $1,120,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Company Profile

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.