The Manufacturers Life Insurance Company Grows Stock Position in Sportradar Group AG $SRAD

Key Points

• The Manufacturers Life Insurance Company increased its Sportradar stake by 963.6% in the first quarter, adding 2.23 million shares to own 2.46 million shares worth approximately $41.2 million, or 0.82% of the company.
• Sportradar reported quarterly revenue of $401.1 million, up 11.3% year over year, but missed expectations on both revenue and earnings, posting a loss of $0.02 per share versus the consensus estimate of $0.06 EPS.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $22.47, well above the stock’s reported $14.70 opening price, although some firms recently downgraded or lowered their targets.

The Manufacturers Life Insurance Company boosted its holdings in Sportradar Group AG (NASDAQ:SRAD - Free Report) by 963.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,463,421 shares of the company's stock after acquiring an additional 2,231,810 shares during the period. The Manufacturers Life Insurance Company owned 0.82% of Sportradar Group worth $41,238,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in Sportradar Group by 93.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company's stock valued at $31,000 after purchasing an additional 620 shares during the period. Empowered Funds LLC purchased a new position in shares of Sportradar Group during the 4th quarter worth $31,000. Tower Research Capital LLC TRC increased its position in shares of Sportradar Group by 10,125.0% during the 2nd 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. Itau Unibanco Holding S.A. purchased a new stake in Sportradar Group in the 4th quarter valued at about $45,000. Finally, CWM LLC lifted its position in Sportradar Group by 316.0% in the fourth 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 last quarter.

Sportradar Group Stock Performance

Shares of SRAD stock opened at $14.70 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.06. Sportradar Group AG has a 52 week low of $11.66 and a 52 week high of $32.22. The stock has a market capitalization of $4.40 billion, a PE ratio of 61.25 and a beta of 1.60. The firm has a 50 day moving average of $14.79 and a two-hundred day moving average of $16.12.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $401.11 million for the quarter, compared to analysts' expectations of $417.86 million. Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.The firm's revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. On average, research analysts predict that Sportradar Group AG will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SRAD shares. Benchmark reiterated a "buy" rating on shares of Sportradar Group in a research report on Thursday, July 9th. Jefferies Financial Group lowered shares of Sportradar Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $30.00 to $14.00 in a report on Friday, April 24th. Needham & Company LLC increased their price objective on shares of Sportradar Group from $19.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Citigroup cut their target price on Sportradar Group from $28.00 to $23.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Finally, Morgan Stanley upped 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. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Sportradar Group has an average rating of "Moderate Buy" and an average price target of $22.47.

About Sportradar Group

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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