Spruce House Investment Management LLC Invests $46.03 Million in Sportradar Group AG $SRAD

Spruce House Investment Management LLC acquired a new position in shares of Sportradar Group AG (NASDAQ:SRAD) in the 1st quarter, Holdings Channel reports. The fund acquired 2,750,000 shares of the company’s stock, valued at approximately $46,035,000. Sportradar Group accounts for about 1.6% of Spruce House Investment Management LLC’s portfolio, making the stock its 10th biggest holding.

Several other institutional investors also recently added to or reduced their stakes in the business. Jericho Capital Asset Management L.P. bought a new stake in shares of Sportradar Group in the fourth quarter valued at approximately $75,117,000. Stephens Investment Management Group LLC bought a new stake in Sportradar Group in the 4th quarter valued at $52,643,000. T. Rowe Price Investment Management Inc. grew its position in Sportradar Group by 19.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock worth $287,158,000 after purchasing an additional 1,929,037 shares during the last quarter. Norges Bank bought a new position in shares of Sportradar Group during the 4th quarter worth about $35,866,000. Finally, Bank of America Corp DE increased its holdings in shares of Sportradar Group by 491.6% during the 3rd quarter. Bank of America Corp DE now owns 1,728,426 shares of the company’s stock worth $46,495,000 after purchasing an additional 1,436,263 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SRAD. Guggenheim reduced their target price on shares of Sportradar Group from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial lowered their price target on Sportradar Group from $26.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. BTIG Research cut their price target on Sportradar Group from $23.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. JPMorgan Chase & Co. raised their price objective on Sportradar Group from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Citizens Jmp decreased their price objective on Sportradar Group from $26.00 to $24.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 8th. Two equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.47.

Sportradar Group Price Performance

NASDAQ:SRAD opened at $14.29 on Monday. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 59.54 and a beta of 1.60. The company has a 50-day moving average of $14.67 and a 200-day moving average of $16.31. Sportradar Group AG has a 52 week low of $11.66 and a 52 week high of $32.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.06.

Sportradar Group (NASDAQ:SRAD) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.08). Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.The business had revenue of $401.11 million for the quarter, compared to the consensus estimate of $417.86 million. During the same quarter in the prior year, the business earned $0.07 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities research analysts anticipate that Sportradar Group AG will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rajani Ramanathan bought 8,003 shares of the stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $12.49 per share, with a total value of $99,957.47. Following the acquisition, the director owned 38,947 shares in the company, valued at $486,448.03. This trade represents a 25.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George Fleet bought 7,850 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average price of $12.73 per share, with a total value of $99,930.50. Following the transaction, the director directly owned 160,873 shares in the company, valued at $2,047,913.29. This represents a 5.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 357,893 shares of company stock worth $4,668,220 over the last quarter.

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.