Informed Momentum Co LLC Invests $1.35 Million in Sportradar Group AG (NASDAQ:SRAD)

Key Points

• Informed Momentum Co LLC invested approximately $1.35 million in Sportradar Group AG by acquiring 62,253 shares in the first quarter.
• Sportradar Group reported a net revenue of $374.25 million for the quarter, exceeding analysts' estimates by over $58 million.
• Analysts have a consensus rating of "Moderate Buy" on Sportradar shares, with a price target averaging around $29.88.

Informed Momentum Co LLC purchased a new position in Sportradar Group AG (NASDAQ:SRAD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 62,253 shares of the company's stock, valued at approximately $1,346,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SRAD. Mackenzie Financial Corp acquired a new stake in shares of Sportradar Group in the fourth quarter worth $1,236,000. Natixis Advisors LLC acquired a new stake in shares of Sportradar Group in the first quarter valued at about $411,000. Renaissance Technologies LLC lifted its stake in shares of Sportradar Group by 79.2% in the fourth quarter. Renaissance Technologies LLC now owns 382,310 shares of the company's stock worth $6,629,000 after buying an additional 169,010 shares in the last quarter. 1492 Capital Management LLC purchased a new position in shares of Sportradar Group in the fourth quarter worth about $2,170,000. Finally, Fifth Third Bancorp purchased a new position in Sportradar Group during the first quarter worth about $360,000.

Wall Street Analysts Forecast Growth

SRAD has been the topic of a number of analyst reports. 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. Macquarie initiated 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. Truist Financial lifted their target price on shares of Sportradar Group from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Arete Research raised shares of Sportradar Group to a "hold" rating in a research note on Wednesday, July 9th. Finally, JMP Securities lifted their price target on shares of Sportradar Group from $25.00 to $30.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $30.50.

Sportradar Group Trading Down 0.6%

Shares of SRAD traded down $0.18 during mid-day trading on Friday, hitting $31.00. The company had a trading volume of 1,305,369 shares, compared to its average volume of 2,135,554. The business's 50-day simple moving average is $27.93 and its 200-day simple moving average is $24.28. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.04. Sportradar Group AG has a 1-year low of $10.79 and a 1-year high of $31.59. The stock has a market cap of $34.50 billion, a PE ratio of 86.11 and a beta of 2.07.

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