Genius Sports Limited (NYSE:GENI – Get Rating) saw unusually-strong trading volume on Tuesday after JMP Securities raised their price target on the stock from $7.00 to $8.00. Approximately 1,430,477 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 1,038,463 shares.The stock last traded at $6.05 and had previously closed at $6.31.
Several other research analysts have also weighed in on GENI. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Genius Sports in a research report on Monday, March 13th. BTIG Research began coverage on shares of Genius Sports in a report on Monday, March 20th. They set a “buy” rating and a $6.00 price objective on the stock. Credit Suisse Group dropped their price target on shares of Genius Sports from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Monday, March 13th. Finally, Lake Street Capital began coverage on shares of Genius Sports in a report on Thursday, May 25th. They issued a “buy” rating and a $7.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $7.14.
Hedge Funds Weigh In On Genius Sports
Several large investors have recently made changes to their positions in the company. FMR LLC bought a new stake in Genius Sports in the first quarter valued at approximately $9,281,000. Portolan Capital Management LLC increased its holdings in shares of Genius Sports by 117.1% in the first quarter. Portolan Capital Management LLC now owns 3,410,041 shares of the company’s stock worth $16,982,000 after acquiring an additional 1,839,544 shares in the last quarter. Granahan Investment Management LLC raised its position in shares of Genius Sports by 13.0% during the first quarter. Granahan Investment Management LLC now owns 10,567,728 shares of the company’s stock worth $52,627,000 after purchasing an additional 1,212,557 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Genius Sports by 209.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,571,529 shares of the company’s stock valued at $5,768,000 after purchasing an additional 1,063,540 shares in the last quarter. Finally, Builders Union LLP acquired a new stake in Genius Sports during the 3rd quarter worth approximately $3,493,000. Institutional investors and hedge funds own 34.12% of the company’s stock.
Genius Sports Price Performance
Genius Sports (NYSE:GENI – Get Rating) last released its quarterly earnings results on Friday, March 10th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Genius Sports had a negative return on equity of 12.81% and a negative net margin of 47.29%. The firm had revenue of $105.34 million for the quarter, compared to analyst estimates of $105.45 million. As a group, analysts forecast that Genius Sports Limited will post -0.25 earnings per share for the current fiscal year.
Genius Sports Company Profile
Genius Sports Limited develops and sells 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.
Further Reading
- Get a free copy of the StockNews.com research report on Genius Sports (GENI)
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