Mackenzie Financial Corp Grows Stock Position in Sportradar Group AG (NASDAQ:SRAD)

Key Points

• Mackenzie Financial Corp has increased its holdings in Sportradar Group AG by 138.8%, owning 170,176 shares worth approximately $3.68 million.
• Sportradar reported earnings per share of $0.07 in its latest quarterly earnings, surpassing analysts' estimates and showing a 17% increase in revenue year-over-year.
• Brokerages have set mixed ratings for Sportradar, with a consensus rating of "Moderate Buy" and a target price averaging around $29.25.

Mackenzie Financial Corp boosted its holdings in Sportradar Group AG (NASDAQ:SRAD - Free Report) by 138.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,176 shares of the company's stock after purchasing an additional 98,920 shares during the quarter. Mackenzie Financial Corp's holdings in Sportradar Group were worth $3,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Corton Capital Inc. bought a new stake in Sportradar Group in the 1st quarter valued at $209,000. TD Asset Management Inc bought a new stake in shares of Sportradar Group in the first quarter worth about $378,000. Pacer Advisors Inc. lifted its position in shares of Sportradar Group by 43.9% in the first quarter. Pacer Advisors Inc. now owns 1,759 shares of the company's stock worth $38,000 after buying an additional 537 shares in the last quarter. Navellier & Associates Inc. bought a new position in Sportradar Group during the first quarter valued at approximately $1,377,000. Finally, Legato Capital Management LLC purchased a new position in Sportradar Group during the 1st quarter valued at approximately $876,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SRAD shares. UBS Group increased their target price on Sportradar Group from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Benchmark upped their target price on shares of Sportradar Group from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Arete assumed coverage on Sportradar Group in a research report on Wednesday, July 9th. They issued a "neutral" rating and a $31.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $27.00 price objective on shares of Sportradar Group in a research report on Monday, May 12th. Finally, Macquarie assumed coverage on Sportradar Group in a research report on Friday, June 20th. They set an "outperform" rating and a $32.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Sportradar Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.25.

Sportradar Group Stock Down 0.1%

NASDAQ SRAD traded down $0.04 on Monday, hitting $29.53. The stock had a trading volume of 1,461,753 shares, compared to its average volume of 1,635,978. The business's fifty day moving average price is $26.88 and its 200 day moving average price is $23.70. The stock has a market cap of $32.86 billion, a price-to-earnings ratio of 155.43 and a beta of 2.07. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.35 and a quick ratio of 1.35. Sportradar Group AG has a 52-week low of $10.06 and a 52-week high of $30.63.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. Sportradar Group had a net margin of 5.16% and a return on equity of 6.38%. The business had revenue of $336.71 million for the quarter, compared to analyst estimates of $318.81 million. The company's revenue was up 17.0% compared to the same quarter last year. Equities research analysts anticipate 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.