Genius Sports (NYSE:GENI) Shares Down 5%

Genius Sports Limited (NYSE:GENI)’s stock price fell 5% during mid-day trading on Thursday . The stock traded as low as $5.17 and last traded at $5.18. 234,412 shares traded hands during trading, a decline of 89% from the average session volume of 2,139,576 shares. The stock had previously closed at $5.45.

Analysts Set New Price Targets

Several research analysts have weighed in on GENI shares. JMP Securities upped their price objective on shares of Genius Sports from $8.00 to $9.00 and gave the company a “market outperform” rating in a research note on Thursday, May 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price objective on shares of Genius Sports in a research report on Monday, February 26th. Oppenheimer reissued an “outperform” rating and issued a $10.00 target price on shares of Genius Sports in a report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $10.00 target price on shares of Genius Sports in a report on Thursday, March 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research report on Thursday, May 9th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $9.33.

Genius Sports Price Performance

The stock has a 50-day moving average of $5.45 and a 200-day moving average of $5.91.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The company had revenue of $119.72 million for the quarter, compared to analyst estimates of $116.53 million. During the same period last year, the company posted ($0.12) earnings per share. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities analysts expect that Genius Sports Limited will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

Hedge funds and other institutional investors have recently modified their holdings of the company. White Pine Capital LLC boosted its stake in shares of Genius Sports by 1.2% in the third quarter. White Pine Capital LLC now owns 327,411 shares of the company’s stock valued at $1,745,000 after buying an additional 3,750 shares during the period. NewEdge Wealth LLC acquired a new stake in shares of Genius Sports during the 4th quarter worth $62,000. Levin Capital Strategies L.P. grew its holdings in shares of Genius Sports by 40.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $200,000 after purchasing an additional 10,000 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of Genius Sports in the third quarter worth $58,000. Finally, Brown Advisory Inc. acquired a new position in Genius Sports in the fourth quarter valued at about $76,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.