NewEdge Advisors LLC Increases Stock Holdings in Sportradar Group AG $SRAD

Key Points

• NewEdge Advisors increased its Sportradar stake by 168.5% in the first quarter, adding 72,276 shares for a total of 115,166 shares valued at approximately $1.93 million.
• Sportradar’s shares opened at $14.54, near the lower end of their 52-week range of $11.66 to $32.22. The company reported quarterly revenue of $401.1 million, up 11.3% year over year, but missed analyst estimates on both revenue and earnings per share.
• Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $22.47, although several firms recently lowered their targets and Jefferies downgraded the stock to “Hold.”

NewEdge Advisors LLC increased its stake in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) by 168.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,166 shares of the company's stock after buying an additional 72,276 shares during the quarter. NewEdge Advisors LLC's holdings in Sportradar Group were worth $1,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SRAD. T. Rowe Price Investment Management Inc. boosted its holdings in Sportradar Group by 19.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company's stock worth $287,158,000 after acquiring an additional 1,929,037 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Sportradar Group by 14.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,175,498 shares of the company's stock valued at $85,421,000 after purchasing an additional 409,545 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Sportradar Group in the fourth quarter valued at about $75,117,000. Stephens Investment Management Group LLC lifted its position in shares of Sportradar Group by 40.7% during the first quarter. Stephens Investment Management Group LLC now owns 3,116,297 shares of the company's stock valued at $52,167,000 after purchasing an additional 901,619 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Sportradar Group by 0.5% during the third quarter. Invesco Ltd. now owns 2,988,207 shares of the company's stock valued at $80,383,000 after purchasing an additional 15,394 shares in the last quarter.

Sportradar Group Price Performance

SRAD opened at $14.54 on Friday. Sportradar Group AG has a fifty-two week low of $11.66 and a fifty-two week high of $32.22. The firm has a 50-day moving average of $14.82 and a 200 day moving average of $16.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $4.35 billion, a P/E ratio of 60.58 and a beta of 1.60.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.08). The company had revenue of $401.11 million during the quarter, compared to the consensus estimate of $417.86 million. Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.The business's revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. On average, research analysts expect that Sportradar Group AG will post 0.39 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SRAD shares. Wells Fargo & Company reduced their price objective on shares of Sportradar Group from $24.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Truist Financial dropped their target price on shares of Sportradar Group from $26.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Benchmark restated a "buy" rating on shares of Sportradar Group in a research note on Thursday, July 9th. Jefferies Financial Group lowered Sportradar Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $30.00 to $14.00 in a report on Friday, April 24th. Finally, Freedom Capital raised Sportradar Group to a "strong-buy" rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Sportradar Group presently has an average rating of "Moderate Buy" and a consensus target price of $22.47.

About Sportradar Group

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.

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