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

Genius Sports Limited (NYSE:GENI) saw some unusual options trading activity on Wednesday. Investors purchased 13,190 call options on the stock. This is an increase of approximately 290% compared to the typical volume of 3,380 call options.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GENI shares. Zacks Research lowered Genius Sports from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Benchmark boosted their price objective on Genius Sports from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. New Street Research set a $17.00 target price on Genius Sports in a research note on Thursday. Wall Street Zen lowered shares of Genius Sports from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Macquarie reissued an “outperform” rating and set a $15.00 price objective on shares of Genius Sports in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

Hedge Funds Weigh In On Genius Sports

A number of institutional investors have recently added to or reduced their stakes in the company. Hodges Capital Management Inc. grew its holdings in Genius Sports by 351.7% during the second quarter. Hodges Capital Management Inc. now owns 971,235 shares of the company’s stock worth $10,101,000 after purchasing an additional 756,235 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Genius Sports by 194.9% in the first quarter. Envestnet Asset Management Inc. now owns 48,904 shares of the company’s stock valued at $490,000 after buying an additional 32,322 shares during the last quarter. Moody National Bank Trust Division boosted its stake in shares of Genius Sports by 11.8% during the 2nd quarter. Moody National Bank Trust Division now owns 661,714 shares of the company’s stock worth $6,882,000 after acquiring an additional 69,600 shares during the period. Entropy Technologies LP bought a new stake in Genius Sports in the 1st quarter valued at $906,000. Finally, Quantbot Technologies LP raised its stake in Genius Sports by 1,259.8% in the 1st quarter. Quantbot Technologies LP now owns 397,484 shares of the company’s stock valued at $3,979,000 after acquiring an additional 368,254 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Price Performance

Genius Sports stock opened at $11.23 on Friday. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -23.89 and a beta of 1.94. The firm has a 50-day moving average of $11.02 and a 200-day moving average of $11.15. Genius Sports has a one year low of $8.15 and a one year high of $13.73.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share (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 return on equity of 14.39% and a negative net margin of 19.71%. As a group, sell-side analysts expect that Genius Sports will post -0.1 earnings per share for the current year.

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.