Nicolet Advisory Services LLC Invests $216,000 in Sportradar Group AG (NASDAQ:SRAD)

Key Points

• Nicolet Advisory Services LLC has acquired a new stake in Sportradar Group AG (NASDAQ:SRAD) valued at approximately $216,000, purchasing 9,813 shares during the first quarter.
• Sportradar Group reported $336.71 million in revenue for the latest quarter, surpassing estimates, and experienced a 17.0% year-over-year revenue increase.
• Wall Street analysts rate Sportradar with an average rating of "Moderate Buy" and set a price target of $29.25, indicating positive market sentiment towards the company.

Nicolet Advisory Services LLC purchased a new position in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,813 shares of the company's stock, valued at approximately $216,000.

Several other institutional investors and hedge funds also recently modified their holdings of SRAD. Unisphere Establishment acquired a new stake in Sportradar Group during the 4th quarter valued at approximately $51,596,000. Granahan Investment Management LLC increased its stake in shares of Sportradar Group by 86.2% in the fourth quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company's stock worth $34,836,000 after buying an additional 930,310 shares during the last quarter. Sellaronda Global Management LP bought a new position in Sportradar Group during the 4th quarter valued at $14,739,000. Penn Capital Management Company LLC acquired a new position in Sportradar Group during the 4th quarter worth $14,029,000. Finally, Oberweis Asset Management Inc. acquired a new stake in shares of Sportradar Group in the 4th quarter valued at about $12,639,000.

Sportradar Group Stock Up 2.2%

Shares of SRAD traded up $0.60 during mid-day trading on Wednesday, reaching $28.44. The company's stock had a trading volume of 2,945,535 shares, compared to its average volume of 1,679,559. The company has a market cap of $31.65 billion, a price-to-earnings ratio of 149.69 and a beta of 2.07. The business has a fifty day moving average of $27.07 and a 200 day moving average of $23.79. 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 1 year low of $10.38 and a 1 year 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 (EPS) for the quarter, topping 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 company had revenue of $336.71 million during the quarter, compared to the consensus estimate of $318.81 million. The company's revenue was up 17.0% on a year-over-year basis. As a group, analysts forecast that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SRAD has been the subject of several research reports. Truist Financial lifted their target price on Sportradar Group from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Bank of America upgraded Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 price target on the stock in a research report on Tuesday, April 22nd. Arete started coverage on Sportradar Group in a research report on Wednesday, July 9th. They set a "neutral" rating and a $31.00 price objective for the company. Benchmark boosted their price target on shares of Sportradar Group from $26.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group started coverage on shares of Sportradar Group in a research note on Monday, July 21st. They set a "neutral" rating and a $31.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Sportradar Group currently has an average rating of "Moderate Buy" and an average price target of $29.88.

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.