57,931 Shares in Sportradar Group AG (NASDAQ:SRAD) Acquired by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. has acquired a new stake in Sportradar Group AG, purchasing 57,931 shares valued at approximately $1,377,000 in the first quarter.
• The company's recent quarterly earnings report revealed a net revenue increase of 17% year-over-year, with an EPS of $0.07, exceeding analyst expectations.
• Sportradar Group's stock is rated a "Moderate Buy" with a consensus price target of $29.25, according to 17 analysts' ratings.

Navellier & Associates Inc. bought a new position in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 57,931 shares of the company's stock, valued at approximately $1,377,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRAD. Quantbot Technologies LP boosted its holdings in Sportradar Group by 196.7% during the fourth quarter. Quantbot Technologies LP now owns 34,002 shares of the company's stock worth $590,000 after buying an additional 22,542 shares during the last quarter. Sei Investments Co. bought a new position in shares of Sportradar Group during the 4th quarter valued at about $3,626,000. LPL Financial LLC lifted its holdings in shares of Sportradar Group by 3.7% during the 4th quarter. LPL Financial LLC now owns 35,663 shares of the company's stock valued at $618,000 after purchasing an additional 1,287 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Sportradar Group by 45.7% during the 4th quarter. JPMorgan Chase & Co. now owns 76,890 shares of the company's stock valued at $1,333,000 after purchasing an additional 24,106 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in shares of Sportradar Group during the 4th quarter valued at about $43,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Sportradar Group from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Macquarie started coverage on Sportradar Group in a research note on Friday, June 20th. They issued an "outperform" rating and a $32.00 target price on the stock. Canaccord Genuity Group boosted their target price on Sportradar Group from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, April 3rd. Arete assumed coverage on Sportradar Group in a research note on Wednesday, July 9th. They issued a "neutral" rating and a $31.00 target price on the stock. Finally, Truist Financial boosted their target price on Sportradar Group from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.25.

Sportradar Group Price Performance

Shares of NASDAQ:SRAD traded up $0.84 during trading on Wednesday, reaching $28.76. 387,237 shares of the company traded hands, compared to its average volume of 1,628,419. The company's 50 day moving average is $26.53 and its two-hundred day moving average is $23.46. The firm has a market capitalization of $32.00 billion, a PE ratio of 151.53 and a beta of 2.07. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.04. 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 released its earnings results on Monday, May 12th. The company reported $0.07 earnings per share 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 the consensus estimate of $318.81 million. Sportradar Group had a return on equity of 6.38% and a net margin of 5.16%. Sportradar Group's revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts predict that Sportradar Group AG will post 0.15 earnings per share for the current year.

About Sportradar Group

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.