Genius Sports (NYSE:GENI) Cut to Hold at Citizens Jmp

Citizens Jmp lowered shares of Genius Sports (NYSE:GENI) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

GENI has been the topic of a number of other research reports. The Goldman Sachs Group raised their price objective on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a report on Thursday, November 14th. Oppenheimer boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday, November 12th. Benchmark lifted their target price on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Macquarie raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.94.

Genius Sports Stock Performance

Shares of Genius Sports stock opened at $8.93 on Monday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -27.91 and a beta of 2.15. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.33. The stock has a 50 day moving average of $8.87 and a 200 day moving average of $7.62.

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

Institutional Investors Weigh In On Genius Sports

A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Genius Sports by 2.9% in the third quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock valued at $65,013,000 after acquiring an additional 230,209 shares during the period. Senvest Management LLC raised its position in shares of Genius Sports by 12.2% during the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after purchasing an additional 819,385 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings 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 lifted its holdings 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 valued at $56,604,000 after purchasing an additional 2,507,165 shares in the last quarter. Finally, Portolan Capital Management LLC boosted its position in Genius Sports by 9.4% during the 3rd quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock worth $24,860,000 after acquiring 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.