Investors Purchase High Volume of Call Options on Genius Sports (NYSE:GENI)

Genius Sports Limited (NYSE:GENI) was the target of some unusual options trading activity on Tuesday. Traders acquired 9,963 call options on the stock. This represents an increase of approximately 278% compared to the average volume of 2,636 call options.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently made changes to their positions in GENI. Divisadero Street Capital Management LP bought a new stake in Genius Sports during the 2nd quarter valued at $11,233,000. Massachusetts Financial Services Co. MA raised its stake in shares of Genius Sports by 28.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after purchasing an additional 1,502,958 shares in the last quarter. Bank of Montreal Can acquired a new stake in Genius Sports in the second quarter worth about $6,575,000. Rice Hall James & Associates LLC bought a new position in Genius Sports in the 2nd quarter valued at about $5,521,000. Finally, AYAL Capital Advisors Ltd acquired a new position in Genius Sports during the 2nd quarter valued at about $4,635,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Stock Up 17.3 %

Genius Sports stock opened at $9.48 on Wednesday. Genius Sports has a 52-week low of $4.73 and a 52-week high of $9.85. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -22.05 and a beta of 1.98. The firm has a 50-day moving average price of $7.53 and a two-hundred day moving average price of $6.52.

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.