Genius Sports (NYSE:GENI) Sets New 12-Month High at $8.29

Genius Sports Limited (NYSE:GENI) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.29 and last traded at $8.20, with a volume of 51020 shares. The stock had previously closed at $7.96.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. B. Riley boosted their price target on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a report on Tuesday, August 6th. Macquarie decreased their price target on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Citigroup initiated coverage on Genius Sports in a report on Thursday, June 13th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $9.45.

Genius Sports Stock Up 3.0 %

The stock has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $6.05. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -20.40 and a beta of 1.96.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The business had revenue of $95.50 million for the quarter, compared to analyst estimates of $94.15 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts expect that Genius Sports Limited will post -0.2 EPS for the current fiscal year.

Institutional Trading of Genius Sports

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Genius Sports by 383.6% during the fourth quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock worth $44,975,000 after purchasing an additional 5,772,540 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Genius Sports by 25.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after buying an additional 1,702,602 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in Genius Sports during the second quarter valued at about $5,521,000. Wells Fargo & Company MN grew its holdings in Genius Sports by 58.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,079,701 shares of the company’s stock worth $6,673,000 after acquiring an additional 399,659 shares during the period. Finally, Ophir Asset Management Pty Ltd bought a new stake in Genius Sports in the fourth quarter worth about $21,961,000. 81.91% of the stock is currently owned by institutional investors.

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.