Genius Sports (NYSE:GENI) Cut to “Hold” at Citizens Jmp

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

Several other analysts have also weighed in on GENI. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a report on Tuesday, November 12th. Benchmark raised their price target on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup boosted their price objective on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. B. Riley raised their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer upped 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.94.

Genius Sports Trading Up 2.8 %

Shares of GENI opened at $9.05 on Monday. The stock has a market cap of $2.08 billion, a PE ratio of -28.28 and a beta of 2.15. Genius Sports has a 1 year low of $4.91 and a 1 year high of $10.33. The stock has a 50 day simple moving average of $8.80 and a 200-day simple moving average of $7.59.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. During the same period in the prior year, the company posted ($0.06) earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, sell-side analysts forecast 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 made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Genius Sports by 2,765,692.0% during the third quarter. JPMorgan Chase & Co. now owns 691,448 shares of the company’s stock worth $5,421,000 after acquiring an additional 691,423 shares in the last quarter. Tidal Investments LLC acquired a new stake in Genius Sports in the third quarter valued at $371,000. Sanctuary Advisors LLC bought a new position in shares of Genius Sports in the 3rd quarter valued at about $221,000. M&T Bank Corp raised its holdings in shares of Genius Sports by 54.8% in the 3rd quarter. M&T Bank Corp now owns 136,536 shares of the company’s stock valued at $1,070,000 after purchasing an additional 48,306 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Genius Sports in the 3rd quarter valued at about $299,000. 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.