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

Genius Sports Limited (NYSE:GENI) was the recipient of some unusual options trading activity on Friday. Stock investors bought 16,462 call options on the company. This is an increase of 1,108% compared to the typical daily volume of 1,363 call options.

Genius Sports Price Performance

Shares of NYSE:GENI opened at $7.88 on Friday. The company has a market cap of $1.81 billion, a P/E ratio of -20.21 and a beta of 1.96. The business has a fifty day simple moving average of $7.04 and a 200-day simple moving average of $6.03. Genius Sports has a 52 week low of $4.62 and a 52 week high of $8.15.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The business had revenue of $95.50 million during the quarter, compared to analysts’ expectations of $94.15 million. Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) EPS. Sell-side analysts expect that Genius Sports will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. B. Riley lifted their target price on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research report on Tuesday, September 10th. Macquarie lowered their target price on Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Citigroup assumed 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research report on Tuesday, August 6th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $9.45.

Hedge Funds Weigh In On Genius Sports

A number of large investors have recently bought and sold shares of GENI. AYAL Capital Advisors Ltd purchased a new stake in shares of Genius Sports during the 2nd quarter worth about $4,635,000. Squarepoint Ops LLC acquired a new position in Genius Sports in the 2nd quarter worth $1,804,000. Bank of Montreal Can purchased a new position in Genius Sports in the 2nd quarter valued at about $6,575,000. Hood River Capital Management LLC grew its stake in shares of Genius Sports by 6.0% during the second quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock valued at $11,046,000 after acquiring an additional 114,490 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Genius Sports during the second quarter worth about $102,000. Hedge funds and other institutional investors 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.