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

Genius Sports Limited (NYSE:GENI) saw unusually large options trading activity on Monday. Traders bought 10,714 call options on the stock. This is an increase of 410% compared to the average daily volume of 2,099 call options.

Hedge Funds Weigh In On Genius Sports

A number of large investors have recently added to or reduced their stakes in GENI. TimesSquare Capital Management LLC bought a new position in Genius Sports in the fourth quarter worth about $59,851,000. Senvest Management LLC raised its holdings in Genius Sports by 45.1% in the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after purchasing an additional 4,243,157 shares in the last quarter. Invesco Ltd. raised its holdings in Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock worth $34,233,000 after purchasing an additional 3,202,290 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Genius Sports by 785.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company’s stock worth $36,248,000 after purchasing an additional 2,917,830 shares in the last quarter. Finally, Voss Capital LP raised its holdings in Genius Sports by 35.4% in the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock worth $122,322,000 after purchasing an additional 2,900,000 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Stock Up 9.7%

NYSE:GENI traded up $0.58 during mid-day trading on Monday, reaching $6.51. The company’s stock had a trading volume of 2,967,485 shares, compared to its average volume of 6,244,208. Genius Sports has a 1 year low of $3.83 and a 1 year high of $13.73. The stock has a fifty day moving average of $4.76 and a 200-day moving average of $7.15. The firm has a market capitalization of $1.60 billion, a PE ratio of -10.58 and a beta of 1.89.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The business had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. During the same period last year, the company earned ($0.03) earnings per share. The firm’s revenue was up 30.5% compared to the same quarter last year. On average, analysts expect that Genius Sports will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

GENI has been the subject of several recent analyst reports. Oppenheimer dropped their price objective on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Needham & Company LLC cut their price target on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wells Fargo & Company cut their price target on shares of Genius Sports from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Wall Street Zen cut shares of Genius Sports from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Finally, Citigroup cut their price target on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.68.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.