Corton Capital Inc. Invests $209,000 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 stake in Sportradar Group AG (NASDAQ:SRAD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and 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 bought and sold shares of the company. TD Asset Management Inc purchased a new stake in shares of Sportradar Group in the 1st quarter valued at approximately $378,000. Pacer Advisors Inc. increased its stake in Sportradar Group by 43.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,759 shares of the company's stock worth $38,000 after buying an additional 537 shares during the period. Navellier & Associates Inc. purchased a new stake in Sportradar Group during the 1st quarter worth approximately $1,377,000. Legato Capital Management LLC purchased a new stake in Sportradar Group during the 1st quarter worth approximately $876,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in Sportradar Group during the 1st quarter worth approximately $260,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on SRAD. The Goldman Sachs Group began coverage on shares of Sportradar Group in a research note on Monday, July 21st. They set a "neutral" rating and a $31.00 target price on the stock. Macquarie began coverage on shares of Sportradar Group in a research note on Friday, June 20th. They set an "outperform" rating and a $32.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Sportradar Group from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Jefferies Financial Group upped their target price on shares of Sportradar Group from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, UBS Group increased their price objective on shares of Sportradar Group from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Sportradar Group has a consensus rating of "Moderate Buy" and an average target price of $29.25.

Sportradar Group Stock Down 0.3%

Shares of Sportradar Group stock traded down $0.08 during trading hours on Tuesday, hitting $27.92. The company had a trading volume of 1,202,013 shares, compared to its average volume of 1,796,640. The company's 50-day moving average is $26.44 and its two-hundred day moving average is $23.43. Sportradar Group AG has a twelve month low of $10.06 and a twelve month high of $30.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $31.07 billion, a P/E ratio of 147.37 and a beta of 2.07.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $336.71 million during the quarter, compared to analysts' expectations of $318.81 million. Sportradar Group had a net margin of 5.16% and a return on equity of 6.38%. The company's revenue was up 17.0% on a year-over-year basis. 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.