Victory Capital Management Inc. Acquires New Stake in Sportradar Group AG $SRAD

Key Points

• Victory Capital Management purchased a new stake of 637,751 shares in Sportradar Group, valued at about $17.16 million, representing roughly 0.21% of the company at quarter-end.
• Sportradar reported $0.01 EPS (missing consensus of $0.10) but posted revenue of $432.8 million (above the $369.6 million estimate), with revenue up 20.2% YoY; the stock opened at $18.23 and was down ~3.2%.
• Several brokers (including Goldman Sachs, BTIG, Needham and Wells Fargo) cut price targets into the $24–$27 range, though the consensus remains a “Moderate Buy” with an average target of about $30.16.

Victory Capital Management Inc. bought a new position in Sportradar Group AG (NASDAQ:SRAD - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 637,751 shares of the company's stock, valued at approximately $17,156,000. Victory Capital Management Inc. owned 0.21% of Sportradar Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Sportradar Group by 10,125.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company's stock worth $46,000 after buying an additional 1,620 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Sportradar Group by 113.7% during the third quarter. TD Private Client Wealth LLC now owns 3,374 shares of the company's stock valued at $91,000 after buying an additional 1,795 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in Sportradar Group by 29.4% during the second quarter. Loomis Sayles & Co. L P now owns 3,524 shares of the company's stock worth $99,000 after acquiring an additional 801 shares during the period. Pacer Advisors Inc. raised its position in Sportradar Group by 103.5% in the third quarter. Pacer Advisors Inc. now owns 4,989 shares of the company's stock worth $134,000 after acquiring an additional 2,537 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Sportradar Group by 788.4% in the 3rd quarter. Bessemer Group Inc. now owns 5,375 shares of the company's stock valued at $144,000 after acquiring an additional 4,770 shares during the last quarter.

Analyst Ratings Changes

SRAD has been the topic of several recent research reports. The Goldman Sachs Group lowered their price objective on shares of Sportradar Group from $35.00 to $24.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 4th. BTIG Research cut their target price on shares of Sportradar Group from $32.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Stifel Nicolaus started coverage on shares of Sportradar Group in a report on Thursday, January 22nd. They set a "buy" rating and a $28.00 target price for the company. Needham & Company LLC decreased their price target on shares of Sportradar Group from $34.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company dropped their price target on Sportradar Group from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $30.16.

Sportradar Group Stock Down 3.2%

Shares of NASDAQ:SRAD opened at $18.23 on Wednesday. The firm has a 50 day simple moving average of $18.83 and a 200 day simple moving average of $23.37. Sportradar Group AG has a 52 week low of $15.73 and a 52 week high of $32.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.36 and a current ratio of 1.17. The company has a market cap of $5.46 billion, a PE ratio of 55.24 and a beta of 2.00.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). The firm had revenue of $432.81 million for the quarter, compared to analysts' expectations of $369.59 million. Sportradar Group had a return on equity of 10.32% and a net margin of 7.73%.The company's revenue for the quarter was up 20.2% on a year-over-year basis. As a group, research analysts expect that Sportradar Group AG will post 0.15 earnings per share for the current year.

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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