Genius Sports (NYSE:GENI) Given Buy Rating at Benchmark

Benchmark reissued their buy rating on shares of Genius Sports (NYSE:GENI) in a research report released on Monday, Marketbeat.com reports. Benchmark currently has a $15.00 target price on the stock, up from their prior target price of $14.00.

Other equities research analysts also recently issued research reports about the company. Northland Capmk raised Genius Sports to a “strong-buy” rating in a report on Friday, July 25th. Wall Street Zen downgraded Genius Sports from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Guggenheim set a $16.00 target price on Genius Sports and gave the company a “buy” rating in a report on Thursday, August 7th. Northland Securities started coverage on Genius Sports in a report on Friday, July 25th. They issued an “outperform” rating and a $14.00 target price for the company. Finally, Arete started coverage on Genius Sports in a report on Wednesday, July 9th. They issued a “buy” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Genius Sports presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Genius Sports Price Performance

NYSE:GENI opened at $12.95 on Monday. The firm’s fifty day moving average price is $10.82 and its 200 day moving average price is $10.14. Genius Sports has a 1-year low of $6.72 and a 1-year high of $13.10. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -41.77 and a beta of 1.86.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The firm had revenue of $118.72 million during the quarter, compared to analysts’ expectations of $118.28 million. During the same quarter last year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 24.4% on a year-over-year basis. As a group, analysts expect that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 4.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. purchased a new stake in Genius Sports in the 2nd quarter valued at about $43,552,000. Divisadero Street Capital Management LP grew its holdings in Genius Sports by 32,386.5% in the 4th quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company’s stock valued at $30,723,000 after buying an additional 3,540,818 shares during the period. Invesco Ltd. grew its holdings in Genius Sports by 3,584.2% in the 2nd 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 during the period. Balyasny Asset Management L.P. purchased a new stake in Genius Sports in the 4th quarter valued at about $24,712,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Genius Sports in the 1st quarter valued at about $28,280,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.