Corton Capital Inc. Makes New Investment in Sportradar Group AG (NASDAQ:SRAD)

Key Points

• Corton Capital Inc. purchased 9,665 shares of Sportradar Group AG for approximately $209,000 in the first quarter.
• Several analysts have recently upgraded Sportradar's ratings, with Bank of America setting a new price target at $28.00 and Jefferies increasing it to $32.00.
• Sportradar Group reported earnings of $0.07 per share, exceeding expectations, with revenue of $336.71 million for the quarter, up 17.0% year-over-year.

Corton Capital Inc. bought a new position in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,665 shares of the company's stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Sportradar Group by 43.9% in the first quarter. Pacer Advisors Inc. now owns 1,759 shares of the company's stock valued at $38,000 after purchasing an additional 537 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Sportradar Group by 34.5% in the first quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company's stock valued at $46,000 after purchasing an additional 551 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in Sportradar Group by 1.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 43,530 shares of the company's stock valued at $755,000 after purchasing an additional 691 shares during the last quarter. LPL Financial LLC increased its holdings in Sportradar Group by 3.7% in the fourth quarter. LPL Financial LLC now owns 35,663 shares of the company's stock valued at $618,000 after purchasing an additional 1,287 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in Sportradar Group by 5.8% in the fourth quarter. XTX Topco Ltd now owns 25,591 shares of the company's stock valued at $444,000 after purchasing an additional 1,414 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SRAD shares. Canaccord Genuity Group increased their price target on Sportradar Group from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, April 3rd. Benchmark increased their price target on Sportradar Group from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. The Goldman Sachs Group initiated coverage on Sportradar Group in a research report on Monday, July 21st. They set a "neutral" rating and a $31.00 price objective for the company. Macquarie initiated coverage on Sportradar Group in a research report on Friday, June 20th. They set an "outperform" rating and a $32.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price objective on shares of Sportradar Group in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Sportradar Group presently has an average rating of "Moderate Buy" and an average target price of $29.25.

Sportradar Group Stock Performance

Shares of SRAD traded up $0.28 during mid-day trading on Thursday, reaching $29.61. The company's stock had a trading volume of 658,715 shares, compared to its average volume of 1,630,460. Sportradar Group AG has a 1-year low of $10.06 and a 1-year high of $30.63. The stock has a market cap of $32.95 billion, a P/E ratio of 155.92 and a beta of 2.07. The business has a 50-day simple moving average of $26.53 and a two-hundred day simple moving average of $23.46. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. Sportradar Group had a return on equity of 6.38% and a net margin of 5.16%. The company had revenue of $336.71 million during the quarter, compared to analysts' expectations of $318.81 million. Sportradar Group's revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Sportradar Group Company Profile

Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name.