State of New Jersey Common Pension Fund D Increases Stake in Sportradar Group AG $SRAD

Key Points

• The State of New Jersey Common Pension Fund D increased its holdings in Sportradar Group AG by 779.2%, bringing its total stake to 206,050 shares valued at $4.45 million.
• Sportradar Group's stock opened at $30.35 and reported strong quarterly earnings, with an EPS of $0.17, significantly exceeding analyst estimates.
• Multiple institutional investors have also raised their stakes in Sportradar, with Pacer Advisors Inc. increasing their position by 43.9% in the same quarter.

State of New Jersey Common Pension Fund D raised its position in shares of Sportradar Group AG (NASDAQ:SRAD - Free Report) by 779.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,050 shares of the company's stock after acquiring an additional 182,615 shares during the period. State of New Jersey Common Pension Fund D's holdings in Sportradar Group were worth $4,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Greenhouse Funds LLLP raised its holdings 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 worth $170,868,000 after acquiring an additional 193,962 shares in the last quarter. Unisphere Establishment purchased a new stake in shares of Sportradar Group during the 4th quarter worth approximately $51,596,000. Granahan Investment Management LLC raised its holdings 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 worth $34,836,000 after acquiring an additional 930,310 shares in the last quarter. Penn Capital Management Company LLC purchased a new stake in shares of Sportradar Group during the 4th quarter worth approximately $14,029,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Sportradar Group by 93.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 769,388 shares of the company's stock worth $13,341,000 after acquiring an additional 372,269 shares in the last quarter.

Sportradar Group Trading Up 1.5%

SRAD stock traded up $0.46 during midday trading on Friday, reaching $31.63. The company's stock had a trading volume of 1,540,953 shares, compared to its average volume of 2,032,694. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a fifty day simple moving average of $28.57 and a two-hundred day simple moving average of $24.60. Sportradar Group AG has a 1 year low of $11.35 and a 1 year high of $31.91. The firm has a market capitalization of $35.20 billion, a price-to-earnings ratio of 87.86 and a beta of 2.07.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group upped their price objective on Sportradar Group from $29.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. JMP Securities increased their price target on Sportradar Group from $25.00 to $30.00 and gave the company a "market outperform" rating in a report on Tuesday, July 15th. Arete began coverage on Sportradar Group in a report on Wednesday, July 9th. They set a "neutral" rating and a $31.00 price target on the stock. Macquarie began coverage on Sportradar Group in a report on Friday, June 20th. They set an "outperform" rating and a $32.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Sportradar Group in a report on Monday, July 21st. They set a "neutral" rating and a $31.00 price target on the stock. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Sportradar Group presently has an average rating of "Moderate Buy" and a consensus price target of $30.50.

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.