Genius Sports (NYSE:GENI) Downgraded by Zacks Research to “Strong Sell”

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

GENI has been the topic of several other reports. Wall Street Zen downgraded shares of Genius Sports from a “sell” rating to a “strong sell” rating in a report on Tuesday. Freedom Capital raised shares of Genius Sports to a “strong-buy” rating in a report on Monday, July 20th. Weiss Ratings upgraded shares of Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $8.00 price target on shares of Genius Sports in a report on Friday, August 7th. Finally, Needham & Company LLC increased their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.44.

Genius Sports Trading Up 2.4%

Shares of NYSE:GENI opened at $7.74 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. Genius Sports has a 52-week low of $3.83 and a 52-week high of $13.73. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -11.38 and a beta of 1.90. The business has a 50-day moving average price of $6.63 and a 200-day moving average price of $5.92.

Genius Sports (NYSE:GENI) last issued its earnings results on Thursday, August 6th. The company reported ($0.28) EPS 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 quarter in the prior year, the company earned ($0.21) EPS. Genius Sports’s quarterly revenue was up 64.7% on a year-over-year basis. Equities analysts predict that Genius Sports will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Genius Sports by 17.6% in the 1st quarter. Royal Bank of Canada now owns 44,339 shares of the company’s stock valued at $444,000 after purchasing an additional 6,623 shares during the period. Cetera Investment Advisers grew its position in Genius Sports by 10.0% during the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock valued at $159,000 after buying an additional 1,388 shares during the period. Prudential Financial Inc. purchased a new position in Genius Sports in the second quarter valued at $266,000. Invesco Ltd. increased its holdings in Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after buying an additional 3,202,290 shares in the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Genius Sports in the second quarter worth about $14,220,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.