AM Investment Strategies LLC Cuts Stock Position in Sportradar Group AG (NASDAQ:SRAD)

Key Points

• AM Investment Strategies LLC significantly reduced its stake in Sportradar Group AG by 89.9% in the first quarter, leading to a holding of only 46,690 shares worth approximately $9.96 million.
• Sportradar Group's stock performance showed a 12-month revenue increase of 17.0%, culminating in a revenue of $336.71 million, which surpassed analyst expectations of $318.81 million.
• Analysts have given Sportradar Group a consensus rating of "Moderate Buy", with target prices ranging from $27.00 to $34.00, reflecting continued optimism in the stock's potential.

AM Investment Strategies LLC lessened its stake in Sportradar Group AG (NASDAQ:SRAD - Free Report) by 89.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,690 shares of the company's stock after selling 413,850 shares during the period. Sportradar Group accounts for 2.4% of AM Investment Strategies LLC's portfolio, making the stock its 8th biggest holding. AM Investment Strategies LLC's holdings in Sportradar Group were worth $9,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SRAD. Greenhouse Funds LLLP boosted its position in shares of Sportradar Group by 2.0% during the 4th quarter. Greenhouse Funds LLLP now owns 9,853,973 shares of the company's stock valued at $170,868,000 after purchasing an additional 193,962 shares in the last quarter. Unisphere Establishment bought a new position in shares of Sportradar Group during the 4th quarter valued at about $51,596,000. Granahan Investment Management LLC boosted its position in shares of Sportradar Group by 86.2% during the 4th quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company's stock valued at $34,836,000 after purchasing an additional 930,310 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Sportradar Group by 47.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,405,428 shares of the company's stock valued at $24,370,000 after purchasing an additional 454,826 shares in the last quarter. Finally, Sellaronda Global Management LP bought a new position in shares of Sportradar Group during the 4th quarter valued at about $14,739,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SRAD shares. Guggenheim restated a "buy" rating and set a $27.00 price objective on shares of Sportradar Group in a research report on Thursday, April 3rd. JPMorgan Chase & Co. raised their price objective on shares of Sportradar Group from $26.00 to $27.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. The Goldman Sachs Group began coverage on shares of Sportradar Group in a research report on Monday, July 21st. They set a "neutral" rating and a $31.00 price objective for the company. JMP Securities upped their price objective on shares of Sportradar Group from $25.00 to $30.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley lifted their target price on shares of Sportradar Group from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.25.

Sportradar Group Stock Up 1.3%

SRAD traded up $0.36 on Friday, reaching $28.51. 1,282,276 shares of the company traded hands, compared to its average volume of 2,074,931. The stock's 50 day moving average price is $26.36 and its 200-day moving average price is $23.30. Sportradar Group AG has a 52-week low of $10.06 and a 52-week high of $30.63. The company has a market cap of $31.72 billion, a price-to-earnings ratio of 150.06 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 (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.07 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 firm had revenue of $336.71 million for the quarter, compared to the consensus estimate of $318.81 million. Sportradar Group's revenue was up 17.0% compared to the same quarter last year. On average, sell-side analysts expect that Sportradar Group AG will post 0.15 EPS for the current fiscal 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.