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 purchased 10,714 call options on the company. This is an increase of approximately 410% compared to the average volume of 2,099 call options.

Genius Sports Trading Up 9.7%

GENI traded up $0.58 during trading hours on Monday, hitting $6.51. The company’s stock had a trading volume of 2,967,485 shares, compared to its average volume of 6,244,208. The business’s 50-day moving average price is $4.76 and its 200-day moving average price is $7.15. Genius Sports has a 12 month low of $3.83 and a 12 month high of $13.73. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -10.58 and a beta of 1.89.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $170.60 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, analysts forecast that Genius Sports will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

Large investors have recently bought and sold shares of the business. Parallel Advisors LLC purchased a new position in Genius Sports during the first quarter worth $25,000. Ritter Alpha LP purchased a new position in Genius Sports during the first quarter worth $77,000. Orographic Financial Advisors LLC purchased a new position in Genius Sports during the first quarter worth $154,000. Royal Bank of Canada boosted its stake in Genius Sports by 24.2% during the first quarter. Royal Bank of Canada now owns 32,298 shares of the company’s stock worth $142,000 after buying an additional 6,294 shares during the period. Finally, Infrastructure Capital Advisors LLC boosted its stake in Genius Sports by 15.6% during the first quarter. Infrastructure Capital Advisors LLC now owns 26,000 shares of the company’s stock worth $115,000 after buying an additional 3,500 shares during the period. Institutional investors own 81.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GENI shares. Roth Mkm set a $10.00 target price on shares of Genius Sports in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a research note on Monday, May 11th. They set a “buy” rating and a $10.00 target price on the stock. Truist Financial decreased their target price on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Needham & Company LLC decreased their target price on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Stifel Nicolaus decreased their target price on shares of Genius Sports from $7.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.