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

Granahan Investment Management LLC lowered its stake in shares of Sportradar Group AG (NASDAQ:SRAD) by 17.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,893,741 shares of the company’s stock after selling 404,742 shares during the quarter. Sportradar Group makes up 2.1% of Granahan Investment Management LLC’s holdings, making the stock its 11th biggest position. Granahan Investment Management LLC’s holdings in Sportradar Group were worth $50,942,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortress Investment Group LLC lifted its position in Sportradar Group by 81.2% in the third quarter. Fortress Investment Group LLC now owns 760,000 shares of the company’s stock worth $20,444,000 after buying an additional 340,560 shares during the last quarter. Bank of America Corp DE lifted its stake in Sportradar Group by 491.6% in the third 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 last quarter. Aquatic Capital Management LLC purchased a new position in shares of Sportradar Group during the third quarter valued at approximately $2,343,000. Ameriprise Financial Inc. boosted its position in shares of Sportradar Group by 80.0% during the third quarter. Ameriprise Financial Inc. now owns 135,232 shares of the company’s stock valued at $3,635,000 after buying an additional 60,108 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Sportradar Group by 33.2% during the third quarter. Lazard Asset Management LLC now owns 221,646 shares of the company’s stock valued at $5,962,000 after buying an additional 55,194 shares during the last quarter.

Analysts Set New Price Targets

SRAD has been the subject of a number of research analyst reports. BTIG Research decreased their price target on Sportradar Group from $32.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Truist Financial set a $32.00 target price on Sportradar Group in a research report on Tuesday, March 3rd. Citizens Jmp cut their price target on shares of Sportradar Group from $34.00 to $31.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sportradar Group in a research note on Monday, December 29th. Finally, Needham & Company LLC lowered their price objective on shares of Sportradar Group from $34.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.16.

Sportradar Group Trading Down 2.4%

Shares of NASDAQ:SRAD opened at $18.66 on Monday. The company has a market capitalization of $5.59 billion, a PE ratio of 56.55 and a beta of 2.00. The company has a current ratio of 1.17, a quick ratio of 1.36 and a debt-to-equity ratio of 0.05. Sportradar Group AG has a 12-month low of $15.73 and a 12-month high of $32.22. The business’s fifty day simple moving average is $18.53 and its 200-day simple moving average is $23.10.

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

Sportradar Group 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.