State of Wyoming Has $368,000 Position in Sportradar Group AG $SRAD

Key Points

• The State of Wyoming reduced its holdings in Sportradar Group AG by 38.4% during Q1, owning 17,024 shares valued at $368,000 after selling 10,618 shares.
• Multiple hedge funds adjusted their positions, with Pacer Advisors Inc. increasing its stake in Sportradar Group by 43.9% during the same period.
• Wall Street analysts have set a consensus price target of $30.50 for Sportradar Group, with a majority rating it as a "Moderate Buy."

State of Wyoming cut its stake in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) by 38.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,024 shares of the company's stock after selling 10,618 shares during the quarter. State of Wyoming's holdings in Sportradar Group were worth $368,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SRAD. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Sportradar Group in the first quarter valued at $20,657,000. 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 valued at $34,836,000 after buying an additional 930,310 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Sportradar Group in the fourth quarter valued at $6,801,000. D. E. Shaw & Co. Inc. increased its stake in shares of Sportradar Group by 93.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 769,388 shares of the company's stock valued at $13,341,000 after buying an additional 372,269 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Sportradar Group by 134.9% in the fourth quarter. Two Sigma Investments LP now owns 534,270 shares of the company's stock valued at $9,264,000 after buying an additional 306,788 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SRAD. Macquarie began coverage on Sportradar Group in a research note on Friday, June 20th. They issued an "outperform" rating and a $32.00 target price for the company. Jefferies Financial Group raised their target price on Sportradar Group from $27.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Needham & Company LLC lifted their price objective on Sportradar Group from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley lifted their price objective on Sportradar Group from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group initiated coverage on Sportradar Group in a research report on Monday, July 21st. They set a "neutral" rating and a $31.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.88.

Sportradar Group Stock Down 0.1%

Shares of NASDAQ:SRAD traded down $0.03 during trading on Friday, hitting $30.87. 1,958,869 shares of the company were exchanged, compared to its average volume of 1,485,416. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 85.75 and a beta of 2.07. Sportradar Group AG has a fifty-two week low of $11.45 and a fifty-two week high of $32.22. The firm has a fifty day moving average price of $29.59 and a two-hundred day moving average price of $25.26. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.04.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.13. The firm had revenue of $374.25 million for the quarter, compared to analyst estimates of $315.30 million. Sportradar Group had a return on equity of 11.74% and a net margin of 9.35%.The business's revenue for the quarter was up 14.1% compared to the same quarter last year. Sportradar Group has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Sportradar Group Company Profile

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.