Sportradar Group AG (NASDAQ:SRAD) Short Interest Down 40.4% in April

Sportradar Group AG (NASDAQ:SRAD) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 7,145,487 shares, a drop of 40.4% from the April 15th total of 11,982,736 shares. Based on an average trading volume of 7,839,834 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SRAD shares. The Goldman Sachs Group decreased their price objective on Sportradar Group from $35.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, March 4th. Jefferies Financial Group cut Sportradar Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $30.00 to $14.00 in a report on Friday, April 24th. Wells Fargo & Company decreased their price objective on Sportradar Group from $24.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Guggenheim decreased their price objective on Sportradar Group from $35.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, UBS Group decreased their price objective on Sportradar Group from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.94.

Insiders Place Their Bets

In other Sportradar Group news, Director William Kurtz acquired 8,000 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $12.97 per share, with a total value of $103,760.00. Following the transaction, the director directly owned 30,179 shares of the company’s stock, valued at $391,421.63. This trade represents a 36.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Carsten Koerl acquired 143,000 shares of the stock in a transaction dated Friday, May 1st. The stock was acquired at an average cost of $13.23 per share, with a total value of $1,891,890.00. Following the transaction, the chief executive officer directly owned 2,278,272 shares in the company, valued at approximately $30,141,538.56. This represents a 6.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 357,893 shares of company stock worth $4,668,220. Insiders own 85.02% of the company’s stock.

Institutional Investors Weigh In On Sportradar Group

Several large investors have recently bought and sold shares of the company. Cresset Asset Management LLC increased its stake in Sportradar Group by 2.1% during the 2nd quarter. Cresset Asset Management LLC now owns 18,746 shares of the company’s stock worth $526,000 after buying an additional 394 shares in the last quarter. Mindset Wealth Management LLC increased its stake in Sportradar Group by 5.5% during the 3rd quarter. Mindset Wealth Management LLC now owns 8,992 shares of the company’s stock worth $242,000 after buying an additional 466 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Sportradar Group by 5.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 9,658 shares of the company’s stock valued at $260,000 after purchasing an additional 489 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Sportradar Group by 93.1% in the 4th 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 in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Sportradar Group by 6.1% in the 1st quarter. Parallel Advisors LLC now owns 16,388 shares of the company’s stock valued at $274,000 after purchasing an additional 937 shares in the last quarter.

Sportradar Group Price Performance

NASDAQ SRAD traded down $0.21 during trading hours on Friday, reaching $12.49. The company’s stock had a trading volume of 1,905,222 shares, compared to its average volume of 5,896,521. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 52.04 and a beta of 1.65. Sportradar Group has a 1-year low of $11.66 and a 1-year high of $32.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average is $16.19 and its two-hundred day moving average is $19.33.

Sportradar Group (NASDAQ:SRAD) 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). The business had revenue of $401.11 million during the quarter, compared to analyst estimates of $417.86 million. Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. On average, equities analysts predict that Sportradar Group will post 0.4 EPS for the current year.

Sportradar Group Company 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.