Genius Sports Target of Unusually High Options Trading (NYSE:GENI)

Genius Sports Limited (NYSE:GENI) saw unusually large options trading on Wednesday. Investors bought 13,190 call options on the company. This is an increase of 290% compared to the average volume of 3,380 call options.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Macquarie reissued an “outperform” rating and issued a $15.00 target price on shares of Genius Sports in a report on Wednesday, November 5th. Roth Capital initiated coverage on shares of Genius Sports in a research report on Friday, September 12th. They issued a “buy” rating and a $16.00 price target for the company. Benchmark raised their price objective on shares of Genius Sports from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. UBS Group lifted their target price on shares of Genius Sports from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Finally, B. Riley increased their price target on Genius Sports from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.11.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Penn Capital Management Company LLC increased its stake in Genius Sports by 2,593.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock worth $15,116,000 after acquiring an additional 1,174,431 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Genius Sports in the third quarter worth $289,000. Oberweis Asset Management Inc. bought a new stake in Genius Sports in the third quarter worth $12,567,000. Castleark Management LLC raised its stake in Genius Sports by 4.0% during the third quarter. Castleark Management LLC now owns 704,666 shares of the company’s stock valued at $8,724,000 after purchasing an additional 27,046 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Genius Sports during the third quarter valued at $941,000. 81.91% of the stock is owned by institutional investors.

Genius Sports Trading Up 7.8%

GENI traded up $0.79 during trading on Wednesday, hitting $10.90. 8,106,265 shares of the company traded hands, compared to its average volume of 4,672,864. The company has a market cap of $2.34 billion, a PE ratio of -23.25 and a beta of 1.94. The stock’s 50-day simple moving average is $11.09 and its two-hundred day simple moving average is $11.15. Genius Sports has a 1 year low of $8.15 and a 1 year high of $13.73.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.18). The company had revenue of $166.28 million for the quarter, compared to the consensus estimate of $156.24 million. Genius Sports had a negative net margin of 19.71% and a negative return on equity of 14.39%. Equities analysts expect that Genius Sports will post -0.1 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.