Granahan Investment Management LLC Cuts Holdings in Sportradar Group AG $SRAD

Key Points

• Granahan Investment Management LLC reduced its holdings in Sportradar Group AG by 5.5%, now owning approximately 1,897,509 shares valued at around $41 million.
• Sportradar Group has recently seen mixed activity from large investors, with entities like Pacer Advisors Inc. increasing their stake by 43.9% while others have reduced theirs.
• Analysts have a generally positive outlook on Sportradar Group, with stock ratings ranging from "Strong Buy" to "Market Outperform" and an average price target set at $30.88.

Granahan Investment Management LLC reduced its position in Sportradar Group AG (NASDAQ:SRAD - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,897,509 shares of the company's stock after selling 111,468 shares during the period. Sportradar Group accounts for about 2.0% of Granahan Investment Management LLC's holdings, making the stock its 12th biggest holding. Granahan Investment Management LLC owned 0.17% of Sportradar Group worth $41,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of Sportradar Group by 43.9% in the 1st 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 position in Sportradar Group by 34.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company's stock valued at $46,000 after acquiring an additional 551 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Sportradar Group in the 1st quarter valued at about $52,000. Battery Global Advisors LLC increased its position in Sportradar Group by 2,800.0% in the 1st quarter. Battery Global Advisors LLC now owns 2,755 shares of the company's stock valued at $60,000 after acquiring an additional 2,660 shares during the period. Finally, Twin Tree Management LP acquired a new position in Sportradar Group in the 1st quarter valued at about $88,000.

Sportradar Group Trading Up 0.9%

Shares of Sportradar Group stock traded up $0.27 during trading hours on Wednesday, reaching $31.45. 375,664 shares of the company's stock were exchanged, compared to its average volume of 1,663,677. Sportradar Group AG has a 52-week low of $11.45 and a 52-week high of $32.22. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 87.39 and a beta of 2.07. The company has a fifty day moving average of $29.72 and a 200-day moving average of $25.39. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.04.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.13. Sportradar Group had a return on equity of 11.74% and a net margin of 9.35%.The company had revenue of $374.25 million for the quarter, compared to analyst estimates of $315.30 million. The company's quarterly revenue was up 14.1% on a year-over-year basis. Sportradar Group has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Sportradar Group AG will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SRAD. Truist Financial boosted their price target on Sportradar Group from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Macquarie began coverage on Sportradar Group in a research report on Friday, June 20th. They issued an "outperform" rating and a $32.00 price target on the stock. Arete began coverage on Sportradar Group in a research report on Wednesday, July 9th. They set a "neutral" rating and a $31.00 target price on the stock. Jefferies Financial Group boosted their target price on Sportradar Group from $27.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Finally, Morgan Stanley boosted their target price on Sportradar Group from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Sportradar Group currently has an average rating of "Moderate Buy" and a consensus target price of $30.88.

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.