Genius Sports (NYSE:GENI) Downgraded by Citizens Jmp to Hold

Genius Sports (NYSE:GENI) was downgraded by analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

GENI has been the topic of a number of other reports. Citigroup upped their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. JMP Securities reissued a “market perform” rating and set a $11.00 target price on shares of Genius Sports in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a research report on Tuesday, November 12th. Oppenheimer increased their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Macquarie lifted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.94.

Genius Sports Price Performance

Shares of Genius Sports stock opened at $8.82 on Monday. The stock’s 50 day simple moving average is $8.84 and its 200-day simple moving average is $7.61. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.33. The stock has a market cap of $2.02 billion, a P/E ratio of -27.56 and a beta of 2.15.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The company had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. During the same quarter last year, the firm posted ($0.06) earnings per share. Genius Sports’s revenue was up 18.2% compared to the same quarter last year. As a group, research analysts expect that Genius Sports will post -0.16 EPS for the current fiscal year.

Institutional Trading of Genius Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of GENI. Koss Olinger Consulting LLC purchased a new position in shares of Genius Sports in the 2nd quarter valued at $64,000. Rice Hall James & Associates LLC purchased a new position in shares of Genius Sports during the second quarter worth about $5,521,000. Massachusetts Financial Services Co. MA increased its position in shares of Genius Sports by 28.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after purchasing an additional 1,502,958 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Genius Sports by 9.4% in the 2nd quarter. Renaissance Technologies LLC now owns 390,000 shares of the company’s stock valued at $2,126,000 after purchasing an additional 33,522 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Genius Sports in the 2nd quarter valued at about $67,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.