Granahan Investment Management LLC Decreases Stock Holdings in Sportradar Group AG $SRAD

Granahan Investment Management LLC reduced its stake in shares of Sportradar Group AG (NASDAQ:SRAD) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,439,659 shares of the company’s stock after selling 230,812 shares during the quarter. Sportradar Group accounts for approximately 1.2% of Granahan Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Granahan Investment Management LLC’s holdings in Sportradar Group were worth $24,100,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SRAD. Wealth High Governance Capital Ltda boosted its stake in shares of Sportradar Group by 144.1% during the 4th quarter. Wealth High Governance Capital Ltda now owns 366,157 shares of the company’s stock worth $8,704,000 after acquiring an additional 216,159 shares in the last quarter. UBS Group AG increased its stake in Sportradar Group by 107.1% in the 4th quarter. UBS Group AG now owns 2,394,126 shares of the company’s stock valued at $56,908,000 after purchasing an additional 1,238,054 shares in the last quarter. Stephens Investment Management Group LLC acquired a new position in Sportradar Group during the fourth quarter worth $52,643,000. Asset Management One Co. Ltd. acquired a new position in Sportradar Group during the fourth quarter worth $2,941,000. Finally, BW Gestao de Investimentos Ltda. boosted its position in Sportradar Group by 133.8% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 233,843 shares of the company’s stock worth $5,558,000 after purchasing an additional 133,841 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SRAD shares. Zacks Research cut Sportradar Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Citigroup decreased their price objective on shares of Sportradar Group from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. UBS Group reissued a “buy” rating on shares of Sportradar Group in a research note on Tuesday, June 9th. Morgan Stanley raised their target price on shares of Sportradar Group from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Finally, Citizens Jmp cut their target price on shares of Sportradar Group from $26.00 to $24.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Sportradar Group currently has a consensus rating of “Moderate Buy” and an average target price of $22.47.

Sportradar Group Stock Performance

NASDAQ SRAD opened at $14.29 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 fifty-two week low of $11.66 and a fifty-two week high of $32.22. The business has a fifty day moving average of $14.67 and a 200-day moving average of $16.35. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 59.54 and a beta of 1.60.

Sportradar Group (NASDAQ:SRAD) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.02) EPS 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 analyst estimates of $417.86 million. Sportradar Group had a net margin of 5.20% and a return on equity of 7.28%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 EPS. As a group, analysts predict that Sportradar Group AG will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Marc Walder bought 66,000 shares of Sportradar Group stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $12.77 per share, for a total transaction of $842,820.00. Following the acquisition, the director owned 342,563 shares in the company, valued at approximately $4,374,529.51. This trade represents a 23.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William Kurtz purchased 8,000 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were purchased at an average cost of $12.97 per share, for a total transaction of $103,760.00. Following the completion of the purchase, the director directly owned 30,179 shares in the company, valued at $391,421.63. The trade was a 36.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 357,893 shares of company stock worth $4,668,220 in the last 90 days. 85.02% of the stock is currently owned by corporate insiders.

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.