Investors Buy High Volume of Genius Sports Call Options (NYSE:GENI)

Genius Sports Limited (NYSE:GENI) saw unusually large options trading on Tuesday. Stock investors bought 4,452 call options on the stock. This represents an increase of approximately 53% compared to the average daily volume of 2,903 call options.

Genius Sports Trading Down 2.5%

Shares of NYSE GENI opened at $12.08 on Thursday. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -38.95 and a beta of 1.85. Genius Sports has a 12-month low of $6.72 and a 12-month high of $13.73. The stock’s 50 day simple moving average is $12.44 and its 200 day simple moving average is $10.90.

Genius Sports (NYSE:GENI) last announced its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The business had revenue of $118.72 million for the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, equities analysts forecast that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Genius Sports during the 1st quarter valued at $37,000. Pacer Advisors Inc. raised its stake in Genius Sports by 61.5% during the 1st quarter. Pacer Advisors Inc. now owns 3,754 shares of the company’s stock valued at $38,000 after acquiring an additional 1,430 shares in the last quarter. CWM LLC raised its stake in Genius Sports by 275.5% during the 2nd quarter. CWM LLC now owns 3,980 shares of the company’s stock valued at $41,000 after acquiring an additional 2,920 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Genius Sports during the 2nd quarter valued at $75,000. Finally, Amalgamated Bank bought a new stake in Genius Sports during the 2nd quarter valued at $79,000. Institutional investors own 81.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GENI. JMP Securities lifted their target price on Genius Sports from $13.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 3rd. Northland Capmk upgraded Genius Sports to a “strong-buy” rating in a research report on Friday, July 25th. Arete began coverage on Genius Sports in a research report on Wednesday, July 9th. They issued a “buy” rating and a $15.00 target price for the company. Wall Street Zen lowered Genius Sports from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Truist Financial began coverage on Genius Sports in a research report on Tuesday, July 1st. They issued a “buy” rating and a $14.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.22.

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.