Genius Sports (NYSE:GENI) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Genius Sports (NYSE:GENI) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks reports.

GENI has been the topic of a number of other research reports. Citigroup restated a “market outperform” rating on shares of Genius Sports in a research note on Tuesday, September 8th. Freedom Capital raised Genius Sports to a “strong-buy” rating in a report on Monday, July 20th. Needham & Company LLC lifted their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Stifel Nicolaus lifted their price objective on shares of Genius Sports from $5.00 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, Oppenheimer upped their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Genius Sports currently has an average rating of “Moderate Buy” and a consensus target price of $11.25.

Genius Sports Trading Up 2.8%

GENI opened at $6.39 on Tuesday. Genius Sports has a 52-week low of $3.83 and a 52-week high of $12.39. The firm has a market capitalization of $1.57 billion, a P/E ratio of -9.40 and a beta of 1.91. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The firm’s 50 day moving average is $7.08 and its 200-day moving average is $6.02.

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

Insider Transactions at Genius Sports

In other news, insider Thomas Russell sold 50,000 shares of the firm’s stock in a transaction dated 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 owned 471,467 shares in the company, valued at approximately $3,069,250.17. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Locke sold 477,449 shares of Genius Sports stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $6.58, for a total transaction of $3,141,614.42. Following the completion of the transaction, the chief executive officer directly owned 19,697,767 shares in the company, valued at $129,611,306.86. This represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 850,000 shares of company stock worth $5,582,049. 16.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genius Sports

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC purchased a new stake in shares of Genius Sports during the first quarter valued at $25,000. Lexington Hill Partners LLC acquired a new stake in shares of Genius Sports during the second quarter worth approximately $64,000. Corient Private Wealth LP acquired a new stake in shares of Genius Sports during the 2nd quarter valued at $83,000. Baer Investment Advisory LLC purchased a new position in Genius Sports in the first quarter valued at about $61,000. Finally, Park National Corp OH bought a new stake in shares of Genius Sports in the 3rd quarter valued at approximately $84,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.