Assenagon Asset Management S.A. Makes New Investment in Sportradar Group AG $SRAD

Key Points

• Assenagon Asset Management acquired 2.19 million Sportradar shares worth approximately $32.8 million, representing about 0.73% of the company.
• Analyst sentiment remains cautiously positive, with a “Moderate Buy” consensus and an average price target of $20.31, although JPMorgan and UBS recently lowered their targets and ratings.
• Sportradar shares opened at $13.02, near the lower end of their 52-week range of $11.55 to $32.22. The company reported quarterly revenue of $431.19 million and a loss of $0.01 per share.

Assenagon Asset Management S.A. acquired a new position in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,191,761 shares of the company's stock, valued at approximately $32,811,000. Assenagon Asset Management S.A. owned approximately 0.73% of Sportradar Group at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake in Sportradar Group by 93.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company's stock worth $31,000 after buying an additional 620 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Sportradar Group in the 4th quarter valued at $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Sportradar Group during the 4th quarter worth about $45,000. Tower Research Capital LLC TRC lifted its holdings in shares of Sportradar Group by 10,125.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company's stock worth $46,000 after acquiring an additional 1,620 shares during the period. Finally, CWM LLC boosted its position in shares of Sportradar Group by 316.0% during the 4th quarter. CWM LLC now owns 2,475 shares of the company's stock valued at $59,000 after acquiring an additional 1,880 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Benchmark reissued a "buy" rating on shares of Sportradar Group in a research note on Thursday, July 9th. JPMorgan Chase & Co. decreased their price objective on Sportradar Group from $17.00 to $15.00 and set a "neutral" rating on the stock in a report on Tuesday, August 4th. UBS Group lowered Sportradar Group from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $30.00 to $16.00 in a research note on Wednesday. Freedom Capital raised Sportradar Group to a "strong-buy" rating in a report on Monday, July 20th. Finally, Needham & Company LLC cut their target price on Sportradar Group from $23.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Sportradar Group has an average rating of "Moderate Buy" and an average target price of $20.31.

Sportradar Group Price Performance

Shares of Sportradar Group stock opened at $13.02 on Friday. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 217.04 and a beta of 1.61. The firm's 50-day moving average price is $14.79 and its two-hundred day moving average price is $15.86. The company has a current ratio of 0.98, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06. Sportradar Group AG has a 1-year low of $11.55 and a 1-year high of $32.22.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported ($0.01) EPS for the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%.The business had revenue of $431.19 million during the quarter. On average, equities analysts predict that Sportradar Group AG will post 0.27 earnings per share for the current fiscal year.

About Sportradar Group

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.

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