Spruce House Investment Management LLC Buys New Stake in Sportradar Group AG $SRAD

Key Points

• Spruce House Investment Management acquired 2.75 million Sportradar shares worth approximately $46 million, making SRAD its 10th-largest holding and representing a 0.92% stake in the company.
• Sportradar’s latest quarter fell short of expectations, with an adjusted loss of $0.02 per share versus consensus for $0.06 in earnings and revenue of $401.1 million versus estimates of $417.9 million. Revenue nevertheless increased 11.3% year over year.
• Insiders purchased 357,893 shares worth $4.67 million during the quarter. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $22.47 compared with the stock’s recent price of $14.29.

Spruce House Investment Management LLC purchased a new position in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,750,000 shares of the company's stock, valued at approximately $46,035,000. Sportradar Group comprises approximately 1.6% of Spruce House Investment Management LLC's investment portfolio, making the stock its 10th largest holding. Spruce House Investment Management LLC owned 0.92% of Sportradar Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Sportradar Group by 93.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company's stock valued at $31,000 after acquiring an additional 620 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Sportradar Group in the 4th quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in Sportradar Group during the fourth quarter valued at approximately $45,000. Tower Research Capital LLC TRC lifted its stake in Sportradar Group by 10,125.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company's stock worth $46,000 after purchasing an additional 1,620 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Sportradar Group by 316.0% in the 4th quarter. CWM LLC now owns 2,475 shares of the company's stock valued at $59,000 after buying an additional 1,880 shares during the period.

Insider Buying and Selling at Sportradar Group

In other Sportradar Group news, Director Deirdre Mary Bigley acquired 3,940 shares of Sportradar Group stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average price of $12.57 per share, with a total value of $49,525.80. Following the purchase, the director owned 13,897 shares in the company, valued at approximately $174,685.29. This trade represents a 39.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rajani Ramanathan acquired 8,003 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average price of $12.49 per share, with a total value 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. This represents a 25.86% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 357,893 shares of company stock worth $4,668,220 over the last quarter.

Sportradar Group Stock Performance

NASDAQ SRAD opened at $14.29 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06. Sportradar Group AG has a 1-year low of $11.66 and a 1-year high of $32.22. The firm's fifty day simple moving average is $14.67 and its 200-day simple moving average is $16.31. The company has a market capitalization of $4.28 billion, a PE ratio of 59.54 and a beta of 1.60.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.08). Sportradar Group had a net margin of 5.20% and a return on equity of 7.28%. The firm had revenue of $401.11 million for the quarter, compared to analyst estimates of $417.86 million. During the same period in the previous year, the business posted $0.07 EPS. Sportradar Group's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Sportradar Group AG will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SRAD has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Sportradar Group from $24.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Citizens Jmp cut their price target on shares of Sportradar Group from $26.00 to $24.00 and set a "market outperform" rating for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on Sportradar Group from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Citigroup cut their target price on shares of Sportradar Group from $28.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Finally, BTIG Research decreased their price objective on Sportradar Group from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.47.

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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