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

Genius Sports Limited (NYSE:GENI) was the recipient of some unusual options trading activity on Friday. Investors purchased 4,198 call options on the company. This is an increase of 176% compared to the average volume of 1,523 call options.

Insider Transactions at Genius Sports

In other news, insider Thomas Russell sold 50,000 shares of Genius Sports stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the transaction, the insider directly owned 471,467 shares in the company, valued at approximately $3,069,250.17. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Locke sold 477,449 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $6.58, for a total value of $3,141,614.42. Following the transaction, the chief executive officer owned 19,697,767 shares in the company, valued at approximately $129,611,306.86. This trade represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 850,000 shares of company stock valued at $5,582,049. Company insiders own 16.60% of the company’s stock.

Institutional Trading of Genius Sports

A number of large investors have recently made changes to their positions in GENI. Parallel Advisors LLC purchased a new position in Genius Sports during the first quarter worth approximately $25,000. Lexington Hill Partners LLC acquired a new position in shares of Genius Sports during the second quarter valued at $64,000. Clearstead Advisors LLC grew its position in Genius Sports by 74,341.2% in the fourth quarter. Clearstead Advisors LLC now owns 12,655 shares of the company’s stock worth $139,000 after buying an additional 12,638 shares during the last quarter. Corient Private Wealth LP acquired a new position in Genius Sports in the 2nd quarter worth about $83,000. Finally, Baer Investment Advisory LLC acquired a new stake in Genius Sports in the 1st quarter worth $61,000. 81.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GENI. Needham & Company LLC boosted their price target on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Roth Capital reiterated a “buy” rating and set a $12.00 price objective on shares of Genius Sports in a report on Friday, August 7th. JPMorgan Chase & Co. began coverage on shares of Genius Sports in a report on Friday. They set an “overweight” rating and a $8.00 price target for the company. Stifel Nicolaus increased their target price on shares of Genius Sports from $5.00 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $8.00 target price on shares of Genius Sports in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.25.

Genius Sports Price Performance

Shares of NYSE GENI traded up $0.51 during mid-day trading on Friday, reaching $6.31. The company’s stock had a trading volume of 3,045,265 shares, compared to its average volume of 6,319,219. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50-day moving average of $7.20 and a two-hundred day moving average of $5.96. Genius Sports has a 1-year low of $3.83 and a 1-year high of $13.52. The stock has a market capitalization of $1.55 billion, a P/E ratio of -9.25 and a beta of 1.88.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). The firm had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The business’s revenue was up 64.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) EPS. On average, equities research analysts anticipate that Genius Sports will post -0.35 EPS for the current fiscal year.

About Genius Sports

Genius Sports Limited (NYSE:GENI) is a sports technology and data company that provides official sports data, technology, and digital services to sports leagues, federations, teams, broadcasters, sportsbooks, and brands. Its platforms help clients collect, manage, distribute, and commercialize live sports information across digital channels.

The company’s offerings include live scores and statistics, data feeds for sports betting, fan-engagement tools, video streaming and content services, and advertising and sponsorship technology.