Stock Buyback Plan Declared by Genius Sports (NYSE:GENI) Board of Directors

Genius Sports (NYSE:GENI) declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently commented on GENI. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a research note on Monday, April 21st. They issued a “buy” rating and a $12.00 price target on the stock. Lake Street Capital lifted their price objective on Genius Sports from $10.50 to $11.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Genius Sports in a research note on Thursday, April 17th. JMP Securities reiterated a “market outperform” rating and set a $11.00 price objective on shares of Genius Sports in a research note on Monday, January 27th. Finally, Guggenheim initiated coverage on shares of Genius Sports in a research note on Tuesday, March 18th. They issued a “buy” rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Genius Sports presently has a consensus rating of “Moderate Buy” and an average target price of $12.19.

Genius Sports Trading Down 4.4 %

Shares of GENI stock opened at $10.53 on Wednesday. Genius Sports has a 12 month low of $5.03 and a 12 month high of $11.40. The stock has a market capitalization of $2.27 billion, a P/E ratio of -32.91 and a beta of 1.96. The firm’s 50 day moving average is $9.92 and its 200 day moving average is $9.19.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same quarter in the previous year, the business posted ($0.11) EPS. Genius Sports’s revenue was up 20.3% on a year-over-year basis. On average, equities analysts predict that Genius Sports will post -0.1 EPS for the current year.

About Genius Sports

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.