Investors Buy Large Volume of Genius Sports Call Options (NYSE:GENI)

Genius Sports Limited (NYSE:GENI) saw unusually large options trading on Tuesday. Traders bought 9,963 call options on the company. This is an increase of approximately 278% compared to the typical daily volume of 2,636 call options.

Genius Sports Price Performance

Shares of GENI opened at $9.48 on Wednesday. The business’s 50-day moving average is $7.53 and its 200-day moving average is $6.52. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -22.05 and a beta of 1.98. Genius Sports has a fifty-two week low of $4.73 and a fifty-two week high of $9.85.

Institutional Trading of Genius Sports

Hedge funds and other institutional investors have recently modified their holdings of the company. AYAL Capital Advisors Ltd acquired a new position in Genius Sports in the 2nd quarter worth about $4,635,000. Rice Hall James & Associates LLC acquired a new position in Genius Sports in the second quarter worth approximately $5,521,000. Hood River Capital Management LLC increased its holdings in Genius Sports by 6.0% in the second quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock worth $11,046,000 after buying an additional 114,490 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Genius Sports in the second quarter valued at approximately $1,804,000. Finally, Bank of Montreal Can acquired a new stake in Genius Sports in the second quarter valued at approximately $6,575,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on GENI. Macquarie decreased their target price on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. The Goldman Sachs Group raised their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Genius Sports in a report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Tuesday. Finally, B. Riley upped their price target on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $9.45.

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.