Wall Street Zen Upgrades Genius Sports (NYSE:GENI) to “Hold”

Genius Sports (NYSE:GENI) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also weighed in on GENI. B. Riley Financial reissued a “buy” rating on shares of Genius Sports in a research note on Friday, February 6th. Benchmark reissued a “buy” rating on shares of Genius Sports in a research note on Thursday, March 5th. Stifel Nicolaus reduced their price objective on Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company reduced their price objective on Genius Sports from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Genius Sports in a research note on Friday, March 27th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Genius Sports has an average rating of “Moderate Buy” and an average target price of $12.63.

Genius Sports Stock Down 3.3%

GENI opened at $3.94 on Friday. The firm has a market cap of $969.72 million, a PE ratio of -9.16 and a beta of 2.08. The business has a fifty day simple moving average of $5.50 and a 200-day simple moving average of $8.97. Genius Sports has a fifty-two week low of $3.87 and a fifty-two week high of $13.73.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.10). The company had revenue of $240.50 million for the quarter, compared to the consensus estimate of $234.94 million. Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The business’s revenue was up 37.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) earnings per share. On average, equities research analysts anticipate that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Trading of Genius Sports

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Genius Sports by 79.5% in the third quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock valued at $16,009,000 after purchasing an additional 572,607 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Genius Sports by 395.5% during the 3rd quarter. New York State Common Retirement Fund now owns 979,000 shares of the company’s stock worth $12,120,000 after purchasing an additional 781,411 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Genius Sports by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,006,277 shares of the company’s stock worth $36,316,000 after purchasing an additional 117,591 shares during the last quarter. Penn Capital Management Company LLC boosted its stake in Genius Sports by 2,593.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock valued at $15,116,000 after purchasing an additional 1,174,431 shares during the period. Finally, Stephens Investment Management Group LLC boosted its stake in Genius Sports by 341.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 3,330,469 shares of the company’s stock valued at $41,231,000 after purchasing an additional 2,576,329 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.