Granite Investment Partners LLC Sells 22,975 Shares of Sportradar Group AG $SRAD

Granite Investment Partners LLC reduced its holdings in Sportradar Group AG (NASDAQ:SRAD) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,715 shares of the company’s stock after selling 22,975 shares during the quarter. Granite Investment Partners LLC’s holdings in Sportradar Group were worth $3,923,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in shares of Sportradar Group by 76.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,765,953 shares of the company’s stock valued at $77,668,000 after purchasing an additional 1,196,197 shares during the period. New York State Common Retirement Fund lifted its stake in Sportradar Group by 2.0% in the second quarter. New York State Common Retirement Fund now owns 621,625 shares of the company’s stock valued at $17,455,000 after buying an additional 12,035 shares in the last quarter. Williamson Legacy Group LLC acquired a new position in shares of Sportradar Group in the second quarter valued at approximately $1,300,000. Loomis Sayles & Co. L P increased its position in shares of Sportradar Group by 29.4% during the second quarter. Loomis Sayles & Co. L P now owns 3,524 shares of the company’s stock worth $99,000 after acquiring an additional 801 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Sportradar Group by 200.0% during the second quarter. Hsbc Holdings PLC now owns 73,912 shares of the company’s stock worth $2,060,000 after acquiring an additional 49,272 shares during the period.

Sportradar Group Stock Performance

SRAD opened at $21.99 on Wednesday. The business’s 50-day simple moving average is $24.86 and its 200 day simple moving average is $26.94. Sportradar Group AG has a 52-week low of $16.27 and a 52-week high of $32.22. 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 firm has a market capitalization of $6.59 billion, a PE ratio of 61.08 and a beta of 2.02.

Sportradar Group (NASDAQ:SRAD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share 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 company had revenue of $342.71 million during the quarter, compared to the consensus estimate of $295.04 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SRAD. Zacks Research cut Sportradar Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. UBS Group upped their price objective on Sportradar Group from $29.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. JMP Securities increased their price objective on Sportradar Group from $30.00 to $36.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 3rd. Morgan Stanley lifted their target price on Sportradar Group from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Sportradar Group in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sportradar Group presently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

Sportradar Group 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.