Stock Traders Buy Large Volume of Genius Sports Call Options (NYSE:GENI)

Genius Sports Limited (NYSE:GENI) saw some unusual options trading on Friday. Stock traders bought 16,462 call options on the company. This represents an increase of 1,108% compared to the typical volume of 1,363 call options.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GENI. Citigroup initiated coverage on Genius Sports in a research report on Thursday, June 13th. They set a “buy” rating and a $9.00 price target for the company. Macquarie cut their price target on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Benchmark reaffirmed a “buy” rating and issued a $10.00 price target on shares of Genius Sports in a report on Tuesday, September 10th. B. Riley upped their price objective on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price target on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Genius Sports has an average rating of “Buy” and a consensus target price of $9.45.

Institutional Trading of Genius Sports

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Koss Olinger Consulting LLC purchased a new position in shares of Genius Sports during the second quarter worth $64,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Genius Sports during the second quarter worth about $67,000. Brown Advisory Inc. purchased a new stake in Genius Sports during the fourth quarter worth about $76,000. Virtu Financial LLC acquired a new stake in shares of Genius Sports during the first quarter worth about $94,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Genius Sports by 42.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock valued at $98,000 after purchasing an additional 5,342 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Stock Down 1.3 %

Shares of Genius Sports stock traded down $0.10 during trading hours on Friday, reaching $7.77. 608,354 shares of the company’s stock were exchanged, compared to its average volume of 2,280,732. The business has a fifty day moving average of $7.00 and a two-hundred day moving average of $6.02. The company has a market capitalization of $1.78 billion, a P/E ratio of -20.18 and a beta of 1.96. Genius Sports has a 1 year low of $4.62 and a 1 year high of $8.15.

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

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.