Envestnet Asset Management Inc. Purchases 38,686 Shares of Sportradar Group AG (NASDAQ:SRAD)

Key Points

• Envestnet Asset Management Inc. increased its stake in Sportradar Group AG by 129.6%, purchasing an additional 38,686 shares and bringing its total holdings to 68,544 shares worth approximately $1.48 million.
• Multiple investors, including National Bank of Canada FI and Barclays PLC, have significantly raised their positions in Sportradar Group during the fourth quarter, with several enhancements exceeding 1,000% increase in holdings.
• Analysts' consensus rating for Sportradar Group is a “Moderate Buy” with an average price target of $29.25, following multiple upgrades from various equities analysts.

Envestnet Asset Management Inc. raised its position in Sportradar Group AG (NASDAQ:SRAD - Free Report) by 129.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,544 shares of the company's stock after purchasing an additional 38,686 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Sportradar Group were worth $1,482,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. National Bank of Canada FI raised its position in shares of Sportradar Group by 1,366.4% during the fourth quarter. National Bank of Canada FI now owns 1,569 shares of the company's stock worth $27,000 after acquiring an additional 1,462 shares during the last quarter. Huntington National Bank raised its position in shares of Sportradar Group by 143.3% during the fourth quarter. Huntington National Bank now owns 2,613 shares of the company's stock worth $45,000 after acquiring an additional 1,539 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Sportradar Group by 37.0% during the fourth quarter. Ancora Advisors LLC now owns 6,850 shares of the company's stock worth $119,000 after acquiring an additional 1,850 shares during the last quarter. Barclays PLC raised its position in shares of Sportradar Group by 60.9% during the fourth quarter. Barclays PLC now owns 9,523 shares of the company's stock worth $165,000 after acquiring an additional 3,605 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Sportradar Group during the fourth quarter worth about $192,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Benchmark raised their price objective on Sportradar Group from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. JMP Securities raised their price objective on Sportradar Group from $25.00 to $30.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th. Bank of America upgraded Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 target price for the company in a report on Tuesday, April 22nd. Arete assumed coverage on Sportradar Group in a report on Wednesday, July 9th. They issued a "neutral" rating and a $31.00 target price for the company. Finally, Jefferies Financial Group lifted their target price on Sportradar Group from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.25.

Sportradar Group Trading Up 0.8%

Shares of Sportradar Group stock opened at $29.57 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. Sportradar Group AG has a 52 week low of $10.06 and a 52 week high of $30.63. The stock has a 50 day moving average price of $26.77 and a two-hundred day moving average price of $23.58. The stock has a market capitalization of $32.90 billion, a PE ratio of 155.64 and a beta of 2.07.

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

Sportradar Group 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.

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