Genius Sports Sees Unusually Large Options Volume (NYSE:GENI)

Genius Sports Limited (NYSE:GENI) saw some unusual options trading activity on Thursday. Stock traders acquired 11,607 call options on the company. This represents an increase of 370% compared to the typical volume of 2,470 call options.

Genius Sports Trading Down 1.7 %

NYSE:GENI traded down $0.15 during mid-day trading on Thursday, hitting $8.63. 338,608 shares of the company’s stock were exchanged, compared to its average volume of 2,295,878. The company has a 50 day simple moving average of $8.97 and a 200-day simple moving average of $8.37. The firm has a market capitalization of $1.86 billion, a P/E ratio of -27.03 and a beta of 2.15. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.33.

Institutional Investors Weigh In On Genius Sports

A number of institutional investors have recently made changes to their positions in GENI. Polar Asset Management Partners Inc. bought a new stake in Genius Sports in the fourth quarter valued at approximately $8,080,000. Castleark Management LLC bought a new stake in shares of Genius Sports in the 4th quarter valued at $3,962,000. Two Sigma Investments LP acquired a new stake in shares of Genius Sports during the fourth quarter worth $227,000. State of Wyoming raised its stake in Genius Sports by 8.3% during the fourth quarter. State of Wyoming now owns 45,630 shares of the company’s stock worth $395,000 after buying an additional 3,495 shares during the last quarter. Finally, Sycale Advisors NY LLC acquired a new position in Genius Sports in the fourth quarter valued at $12,113,000. Institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Oppenheimer raised their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Macquarie boosted their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Benchmark upped their price objective on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of Genius Sports in a report on Friday, January 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $11.00 target price on shares of Genius Sports in a research report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.69.

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.