Norges Bank Purchases Shares of 1,508,884 Sportradar Group AG $SRAD

Norges Bank purchased a new stake in Sportradar Group AG (NASDAQ:SRAD) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,508,884 shares of the company’s stock, valued at approximately $35,866,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Sportradar Group by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 196,012 shares of the company’s stock valued at $4,659,000 after buying an additional 7,590 shares during the period. Penn Capital Management Company LLC lifted its stake in Sportradar Group by 30.9% in the fourth quarter. Penn Capital Management Company LLC now owns 62,938 shares of the company’s stock valued at $1,520,000 after buying an additional 14,850 shares during the period. Legato Capital Management LLC lifted its stake in Sportradar Group by 71.2% in the fourth quarter. Legato Capital Management LLC now owns 16,276 shares of the company’s stock valued at $387,000 after buying an additional 6,767 shares during the period. Leonteq Securities AG acquired a new position in Sportradar Group in the fourth quarter valued at approximately $475,000. Finally, Gabelli Funds LLC lifted its stake in Sportradar Group by 8.8% in the fourth quarter. Gabelli Funds LLC now owns 54,400 shares of the company’s stock valued at $1,293,000 after buying an additional 4,400 shares during the period.

Analyst Ratings Changes

Several equities analysts have issued reports on SRAD shares. Needham & Company LLC boosted their price target on Sportradar Group from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Monday. UBS Group dropped their price target on Sportradar Group from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Citizens Jmp dropped their price target on Sportradar Group from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 4th. Wells Fargo & Company dropped their price target on Sportradar Group from $24.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus dropped their price target on Sportradar Group from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.06.

Trending Headlines about Sportradar Group

Here are the key news stories impacting Sportradar Group this week:

• Positive Sentiment: Sportradar announced a landmark partnership with Kalshi, giving it a larger role in prediction markets and a potential new growth avenue. Article title
• Positive Sentiment: Needham raised its price target on Sportradar and reiterated a buy rating, signaling higher upside expectations.
• Neutral Sentiment: Several law firms issued lead-plaintiff deadline notices and class-action reminders tied to earlier allegations about compliance and alleged ties to illegal gambling operators. Article title

Insiders Place Their Bets

In related news, Director George Fleet purchased 7,850 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average cost of $12.73 per share, with a total value of $99,930.50. Following the transaction, the director owned 160,873 shares of the company’s stock, valued at $2,047,913.29. This represents a 5.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rajani Ramanathan purchased 8,003 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average cost of $12.49 per share, with a total value of $99,957.47. Following the completion of the transaction, the director directly owned 38,947 shares in the company, valued at $486,448.03. The trade was a 25.86% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 357,893 shares of company stock worth $4,668,220 in the last three months.

Sportradar Group Stock Performance

NASDAQ SRAD opened at $15.26 on Tuesday. The company has a fifty day simple moving average of $14.49 and a 200 day simple moving average of $18.10. Sportradar Group AG has a 12-month low of $11.66 and a 12-month high of $32.22. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.57 billion, a P/E ratio of 63.58 and a beta of 1.64.

Sportradar Group (NASDAQ:SRAD) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.02) earnings per share (EPS) 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 business had revenue of $401.11 million during the quarter, compared to analyst estimates of $417.86 million. During the same period in the previous year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Sportradar Group AG will post 0.4 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.