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

A number of other institutional investors and hedge funds also recently modified their holdings of SRAD. Moody Aldrich Partners LLC increased its holdings in shares of Sportradar Group by 78.2% in the 1st quarter. Moody Aldrich Partners LLC now owns 254,966 shares of the company's stock worth $5,512,000 after acquiring an additional 111,902 shares during the period. Wealthstar Advisors LLC acquired a new stake in shares of Sportradar Group in the 1st quarter worth about $942,000. Lisanti Capital Growth LLC acquired a new position in Sportradar Group during the 1st quarter valued at about $4,986,000. Fifth Third Bancorp acquired a new position in Sportradar Group during the 1st quarter valued at about $360,000. Finally, SG Americas Securities LLC acquired a new position in Sportradar Group during the 1st quarter valued at about $1,840,000.

Analyst Ratings Changes

Several equities analysts have commented on SRAD shares. JMP Securities raised their target price on shares of Sportradar Group from $25.00 to $30.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 15th. Bank of America raised shares of Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 target price on the stock in a research note on Tuesday, April 22nd. Morgan Stanley raised their target price on shares of Sportradar Group from $22.00 to $23.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Jefferies Financial Group raised their target price on shares of Sportradar Group from $27.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $27.00 target price on shares of Sportradar Group in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.25.

Sportradar Group Trading Up 0.4%

Shares of SRAD traded up $0.12 during midday trading on Monday, hitting $29.69. The stock had a trading volume of 391,258 shares, compared to its average volume of 1,628,532. Sportradar Group AG has a fifty-two week low of $10.06 and a fifty-two week high of $30.63. The business has a 50-day simple moving average of $26.88 and a two-hundred day simple moving average of $23.70. The firm has a market cap of $33.04 billion, a P/E ratio of 156.56 and a beta of 2.07. 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 posted its quarterly earnings results on Monday, May 12th. The company reported $0.07 EPS for the quarter, topping 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%. Sportradar Group's quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts forecast that Sportradar Group AG will post 0.15 EPS for the current 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.