Norges Bank Takes Position in Sportradar Group AG $SRAD

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Sportradar Group, buying 1,508,884 shares worth about $35.9 million and owning roughly 0.50% of the company.
• Several other institutional investors also adjusted their positions, while Sportradar saw insider buying from directors George Fleet and Rajani Ramanathan; insiders purchased a total of 357,893 shares worth about $4.67 million over the last three months.
• Analysts remain generally positive, with Needham raising its price target to $23 and the stock carrying a consensus rating of Moderate Buy; however, the latest quarter showed EPS of -$0.02 and revenue of $401.1 million, both below expectations.

Norges Bank acquired a new stake in Sportradar Group AG (NASDAQ:SRAD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,508,884 shares of the company's stock, valued at approximately $35,866,000. Norges Bank owned about 0.50% of Sportradar Group as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SRAD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Sportradar Group during the 1st quarter worth about $573,000. Goldman Sachs Group Inc. lifted its holdings in Sportradar Group by 175.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 610,384 shares of the company's stock worth $13,197,000 after purchasing an additional 388,769 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Sportradar Group by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 182,112 shares of the company's stock worth $5,114,000 after purchasing an additional 9,162 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Sportradar Group during the 2nd quarter worth approximately $316,000. Finally, Legal & General Group Plc acquired a new stake in Sportradar Group during the 2nd quarter worth approximately $260,000.

Trending Headlines about Sportradar Group

Here are the key news stories impacting Sportradar Group this week:

• Positive Sentiment: Sportradar announced a landmark partnership with Kalshi, giving it a larger role in prediction markets and a potential new growth avenue. Article title
• Positive Sentiment: Needham raised its price target on Sportradar and reiterated a buy rating, signaling higher upside expectations.
• Neutral Sentiment: Several law firms issued lead-plaintiff deadline notices and class-action reminders tied to earlier allegations about compliance and alleged ties to illegal gambling operators. Article title

Insiders Place Their Bets

In related news, Director George Fleet bought 7,850 shares of Sportradar Group stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost of $12.73 per share, for a total transaction of $99,930.50. Following the completion of the acquisition, the director directly owned 160,873 shares of the company's stock, valued at approximately $2,047,913.29. The trade was a 5.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rajani Ramanathan bought 8,003 shares of Sportradar Group stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average price of $12.49 per share, for a total transaction of $99,957.47. Following the completion of the acquisition, the director directly owned 38,947 shares of the company's stock, valued at $486,448.03. The trade was a 25.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 357,893 shares of company stock valued at $4,668,220 over the last three months.

Analysts Set New Price Targets

Several analysts have weighed in on SRAD shares. Needham & Company LLC lifted their price objective on shares of Sportradar Group from $19.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday. UBS Group dropped their price objective on shares of Sportradar Group from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Wells Fargo & Company dropped their price objective on Sportradar Group from $24.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Benchmark dropped their price objective on Sportradar Group from $23.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Finally, Morgan Stanley lifted their price objective on Sportradar Group from $24.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Sportradar Group currently has a consensus rating of "Moderate Buy" and an average target price of $24.06.

Sportradar Group Price Performance

SRAD stock opened at $15.26 on Tuesday. The company has a 50 day simple moving average of $14.49 and a 200 day simple moving average of $18.10. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 63.58 and a beta of 1.64. Sportradar Group AG has a 1 year low of $11.66 and a 1 year high of $32.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.06 and a quick ratio of 1.06.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.08). Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.The firm had revenue of $401.11 million for the quarter, compared to the consensus estimate of $417.86 million. During the same quarter last year, the firm posted $0.07 earnings per share. The business's revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts anticipate that Sportradar Group AG will post 0.4 EPS for the current fiscal year.

Sportradar Group Profile

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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