Wedbush Securities Inc. Acquires New Stake in Sportradar Group AG $SRAD

Wedbush Securities Inc. bought a new position in shares of Sportradar Group AG (NASDAQ:SRAD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 8,110 shares of the company’s stock, valued at approximately $228,000.

A number of other large investors have also modified their holdings of SRAD. Envestnet Asset Management Inc. lifted its stake in shares of Sportradar Group by 129.6% in the first quarter. Envestnet Asset Management Inc. now owns 68,544 shares of the company’s stock worth $1,482,000 after buying an additional 38,686 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Sportradar Group by 34.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company’s stock worth $46,000 after purchasing an additional 551 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in Sportradar Group in the 1st quarter worth approximately $260,000. Legato Capital Management LLC acquired a new position in shares of Sportradar Group during the 1st quarter worth approximately $876,000. Finally, Navellier & Associates Inc. purchased a new stake in shares of Sportradar Group in the first quarter valued at approximately $1,377,000.

Wall Street Analysts Forecast Growth

SRAD has been the topic of a number of analyst reports. JMP Securities lifted their price objective on Sportradar Group from $30.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 3rd. Weiss Ratings cut shares of Sportradar Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, November 7th. Zacks Research lowered shares of Sportradar Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Needham & Company LLC lifted their target price on shares of Sportradar Group from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Sportradar Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.88.

Sportradar Group Stock Performance

NASDAQ:SRAD opened at $22.64 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market capitalization of $6.78 billion, a P/E ratio of 62.89 and a beta of 2.01. The company has a 50 day moving average price of $27.05 and a 200 day moving average price of $27.02. Sportradar Group AG has a fifty-two week low of $16.27 and a fifty-two week high of $32.22.

Sportradar Group (NASDAQ:SRAD) last announced its earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Sportradar Group had a net margin of 9.35% and a return on equity of 11.74%. The firm had revenue of $342.71 million during the quarter, compared to analysts’ expectations of $295.04 million. During the same period in the previous year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sportradar Group has set its FY 2025 guidance at EPS. Equities research analysts forecast that Sportradar Group AG will post 0.15 EPS for the current year.

Sportradar Group Company Profile

Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name.