Genius Sports (NYSE:GENI) Hits New 12-Month High at $8.25

Posted by on Aug 6th, 2023

Shares of Genius Sports Limited (NYSE:GENI – Get Free Report) reached a new 52-week high on Friday . The company traded as high as $8.25 and last traded at $7.64, with a volume of 673665 shares. The stock had previously closed at $7.31.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GENI shares. JMP Securities lifted their target price on Genius Sports from $8.00 to $9.00 in a research report on Thursday, July 13th. Citigroup raised their price target on shares of Genius Sports from $7.00 to $9.00 in a research note on Wednesday, July 19th. BTIG Research raised their price target on shares of Genius Sports from $6.00 to $9.00 in a research note on Tuesday, July 11th. Finally, Lake Street Capital assumed coverage on shares of Genius Sports in a research note on Thursday, May 25th. They set a “buy” rating and a $7.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $8.14.

Genius Sports Price Performance

The business’s 50 day simple moving average is $6.63 and its 200 day simple moving average is $5.38. The stock has a market cap of $1.63 billion, a P/E ratio of -9.14 and a beta of 1.93.

Genius Sports (NYSE:GENI – Get Free Report) last posted its earnings results on Tuesday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Genius Sports had a negative net margin of 47.29% and a negative return on equity of 12.81%. The firm had revenue of $97.30 million during the quarter, compared to the consensus estimate of $92.26 million. During the same quarter last year, the firm posted ($0.15) EPS. The business’s revenue was up 13.3% on a year-over-year basis. Research analysts predict that Genius Sports Limited will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Granahan Investment Management LLC raised its stake in shares of Genius Sports by 13.0% in the first quarter. Granahan Investment Management LLC now owns 10,567,728 shares of the company’s stock valued at $52,627,000 after acquiring an additional 1,212,557 shares during the last quarter. Bank of New York Mellon Corp raised its position in Genius Sports by 14.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,634,216 shares of the company’s stock worth $41,066,000 after purchasing an additional 819,228 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Genius Sports by 8.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,701,256 shares of the company’s stock worth $28,392,000 after purchasing an additional 456,847 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Genius Sports by 8.7% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 5,701,256 shares of the company’s stock worth $28,506,000 after purchasing an additional 456,847 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in Genius Sports by 5.9% in the 1st quarter. ARK Investment Management LLC now owns 5,109,881 shares of the company’s stock worth $25,447,000 after purchasing an additional 285,114 shares during the last quarter. Institutional investors own 39.40% of the company’s stock.

Genius Sports Company Profile

(Get Free Report)

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.

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