Stock Buyback Plan Declared by Genius Sports (NYSE:GENI) Board of Directors

Genius Sports (NYSE:GENI) declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 6th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 4.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Genius Sports Stock Performance

GENI opened at $10.53 on Wednesday. The firm’s fifty day moving average is $9.92 and its two-hundred day moving average is $9.19. The firm has a market cap of $2.27 billion, a PE ratio of -32.91 and a beta of 1.96. Genius Sports has a twelve month low of $5.03 and a twelve month high of $11.40.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same period in the prior year, the company earned ($0.11) earnings per share. The company’s revenue was up 20.3% compared to the same quarter last year. Equities analysts forecast that Genius Sports will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on GENI shares. Deutsche Bank Aktiengesellschaft began coverage on Genius Sports in a research report on Monday, April 21st. They set a “buy” rating and a $12.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Guggenheim began coverage on Genius Sports in a research report on Tuesday, March 18th. They set a “buy” rating and a $12.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 target price on shares of Genius Sports in a research note on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price target on shares of Genius Sports in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.19.

Genius Sports Company Profile

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.