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

Granahan Investment Management LLC reduced its position in Sportradar Group AG (NASDAQ:SRAD) by 13.8% in the 1st quarter, according to its most recent disclosure 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 comprises approximately 1.2% of Granahan Investment Management LLC’s portfolio, making the stock its 23rd biggest position. Granahan Investment Management LLC owned approximately 0.48% of Sportradar Group worth $24,100,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Sportradar Group by 29.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 253,581 shares of the company’s stock valued at $4,245,000 after acquiring an additional 57,455 shares during the period. Gabelli Funds LLC raised its position in Sportradar Group by 40.6% in the 1st quarter. Gabelli Funds LLC now owns 76,513 shares of the company’s stock valued at $1,281,000 after purchasing an additional 22,113 shares during the last quarter. Sellaronda Global Management LP acquired a new stake in Sportradar Group during the 1st quarter worth $12,136,000. Sei Investments Co. boosted its stake in Sportradar Group by 31.0% during the 1st quarter. Sei Investments Co. now owns 110,193 shares of the company’s stock worth $1,845,000 after purchasing an additional 26,095 shares during the period. Finally, First Trust Advisors LP grew its position in Sportradar Group by 507.7% during the 1st quarter. First Trust Advisors LP now owns 68,877 shares of the company’s stock worth $1,153,000 after purchasing an additional 57,543 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Sportradar Group from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Citizens Jmp lowered their price target 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. UBS Group restated a “buy” rating on shares of Sportradar Group in a research report on Tuesday, June 9th. Wells Fargo & Company reduced their price objective on Sportradar Group from $24.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.47.

Insider Transactions at Sportradar Group

In other Sportradar Group news, Director Rajani Ramanathan acquired 8,003 shares of the stock in a transaction on Thursday, April 30th. The shares were bought 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 of the company’s stock, valued at $486,448.03. This trade represents a 25.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deirdre Mary Bigley bought 3,940 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were acquired at an average cost of $12.57 per share, with a total value of $49,525.80. Following the completion of the purchase, the director owned 13,897 shares in the company, valued at approximately $174,685.29. This represents a 39.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 357,893 shares of company stock valued at $4,668,220 over the last 90 days. Insiders own 85.02% of the company’s stock.

Sportradar Group Stock Up 0.1%

Shares of Sportradar Group stock opened at $14.29 on Friday. Sportradar Group AG has a one year low of $11.66 and a one year high of $32.22. The company has a market cap of $4.28 billion, a P/E ratio of 59.54 and a beta of 1.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a fifty day moving average of $14.67 and a two-hundred day moving average of $16.35.

Sportradar Group (NASDAQ:SRAD) last issued its earnings results on Wednesday, April 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.08). Sportradar Group had a net margin of 5.20% and a return on equity of 7.28%. The firm had revenue of $401.11 million during the quarter, compared to analysts’ expectations of $417.86 million. During the same period in the previous year, the firm earned $0.07 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. On average, analysts forecast that Sportradar Group AG will post 0.39 earnings per share for the current year.

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.