Genius Sports (NYSE:GENI) Sets New 12-Month High – Here’s Why

Genius Sports Limited (NYSE:GENI)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $10.37 and last traded at $10.36, with a volume of 3154750 shares. The stock had previously closed at $10.05.

Wall Street Analysts Forecast Growth

GENI has been the subject of several research reports. The Goldman Sachs Group lifted their target price on Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Wednesday, March 5th. B. Riley initiated coverage on Genius Sports in a research report on Tuesday, March 18th. They issued a “buy” rating for the company. Guggenheim initiated coverage on Genius Sports in a research report on Tuesday, March 18th. They issued a “buy” rating and a $12.00 target price for the company. Lake Street Capital lifted their target price on Genius Sports from $10.50 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Craig Hallum set a $15.00 target price on Genius Sports in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.23.

Genius Sports Trading Up 3.1 %

The firm has a 50 day moving average price of $9.17 and a 200-day moving average price of $8.59. The firm has a market cap of $2.23 billion, a PE ratio of -32.38 and a beta of 2.14.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). The business had revenue of $175.53 million for the quarter, compared to analysts’ expectations of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same quarter in the previous year, the firm earned ($0.10) EPS. Equities analysts forecast that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several institutional investors have recently added to or reduced their stakes in GENI. Divisadero Street Capital Management LP lifted its stake in Genius Sports by 32,386.5% during the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company’s stock worth $30,723,000 after purchasing an additional 3,540,818 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Genius Sports in the fourth quarter valued at approximately $24,712,000. FMR LLC lifted its stake in Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after buying an additional 2,507,165 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in Genius Sports in the fourth quarter valued at approximately $15,553,000. Finally, Capital Research Global Investors lifted its stake in Genius Sports by 14.2% in the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock valued at $112,038,000 after buying an additional 1,610,078 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

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.