Sportradar Group AG $SRAD Shares Purchased by Rice Hall James & Associates LLC

Key Points

• Rice Hall James & Associates LLC increased its Sportradar Group stake by 38.7% in the first quarter, buying 441,765 more shares and bringing its total to 1,582,182 shares worth about $26.5 million.
• Other institutional investors and hedge funds also adjusted their positions, with several firms adding to holdings and First Trust Advisors LP posting a particularly large 507.7% increase in its stake.
• Sportradar’s latest results were mixed: revenue rose 11.3% year over year to $401.11 million, but earnings per share missed analyst expectations, and analyst sentiment remains a “Moderate Buy” with a consensus target price of $22.47.

Rice Hall James & Associates LLC increased its stake in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) by 38.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,582,182 shares of the company's stock after buying an additional 441,765 shares during the period. Sportradar Group comprises 1.5% of Rice Hall James & Associates LLC's portfolio, making the stock its 18th largest holding. Rice Hall James & Associates LLC owned 0.53% of Sportradar Group worth $26,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SRAD. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Sportradar Group by 29.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 253,581 shares of the company's stock valued at $4,245,000 after buying an additional 57,455 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Sportradar Group by 40.6% during the 1st quarter. Gabelli Funds LLC now owns 76,513 shares of the company's stock worth $1,281,000 after acquiring an additional 22,113 shares in the last quarter. Sellaronda Global Management LP acquired a new stake in shares of Sportradar Group in the 1st quarter worth approximately $12,136,000. Sei Investments Co. grew its holdings in shares of Sportradar Group by 31.0% in the 1st quarter. Sei Investments Co. now owns 110,193 shares of the company's stock worth $1,845,000 after acquiring an additional 26,095 shares during the period. Finally, First Trust Advisors LP increased its stake in Sportradar Group by 507.7% in the 1st quarter. First Trust Advisors LP now owns 68,877 shares of the company's stock valued at $1,153,000 after purchasing an additional 57,543 shares in the last quarter.

Sportradar Group Price Performance

Shares of NASDAQ:SRAD opened at $14.29 on Friday. 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 business's fifty day moving average price is $14.67 and its two-hundred day moving average price is $16.35. The stock has a market cap of $4.28 billion, a PE ratio of 59.54 and a beta of 1.60. Sportradar Group AG has a one year low of $11.66 and a one year high of $32.22.

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 analysts' consensus estimates of $0.06 by ($0.08). Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.The company had revenue of $401.11 million during the quarter, compared to analyst estimates of $417.86 million. During the same period last year, the firm earned $0.07 earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Sportradar Group AG will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SRAD shares. Guggenheim reduced their price objective on Sportradar Group from $30.00 to $28.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley lifted their price target on Sportradar Group from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 8th. Freedom Capital upgraded shares of Sportradar Group to a "strong-buy" rating in a research report on Monday, July 20th. Jefferies Financial Group cut shares of Sportradar Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from $30.00 to $14.00 in a research note on Friday, April 24th. Finally, Zacks Research downgraded shares of Sportradar Group from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.47.

Insider Activity

In related news, Director Rajani Ramanathan acquired 8,003 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $12.49 per share, for a total transaction of $99,957.47. Following the transaction, the director owned 38,947 shares in the company, valued at $486,448.03. This trade represents a 25.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George Fleet bought 7,850 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $12.73 per share, with a total value of $99,930.50. Following the purchase, the director directly owned 160,873 shares in the company, valued at $2,047,913.29. The trade was a 5.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 357,893 shares of company stock worth $4,668,220 in the last quarter. Corporate insiders own 85.02% of the company's stock.

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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