Assenagon Asset Management S.A. Invests $32.81 Million in Sportradar Group AG $SRAD

Assenagon Asset Management S.A. acquired a new position in shares of Sportradar Group AG (NASDAQ:SRAD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,191,761 shares of the company’s stock, valued at approximately $32,811,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SRAD. Jericho Capital Asset Management L.P. bought a new stake in shares of Sportradar Group during the fourth quarter worth $75,117,000. Spruce House Investment Management LLC bought a new stake in Sportradar Group during the 1st quarter worth about $46,035,000. The Manufacturers Life Insurance Company lifted its position in Sportradar Group by 963.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock valued at $41,238,000 after purchasing an additional 2,231,810 shares during the period. Stephens Investment Management Group LLC bought a new position in shares of Sportradar Group in the 4th quarter valued at about $52,643,000. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Sportradar Group by 19.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock worth $287,158,000 after buying an additional 1,929,037 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on SRAD. Jefferies Financial Group cut shares of Sportradar Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $30.00 to $14.00 in a research report on Friday, April 24th. Needham & Company LLC cut their target price on Sportradar Group from $23.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. Citizens Jmp reduced their target price on Sportradar Group from $24.00 to $20.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 4th. Wells Fargo & Company set a $20.00 price target on Sportradar Group in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sportradar Group from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sportradar Group currently has an average rating of “Moderate Buy” and an average price target of $20.31.

Sportradar Group Stock Performance

Shares of SRAD stock opened at $13.02 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 0.98. The company has a market capitalization of $3.90 billion, a P/E ratio of 217.04 and a beta of 1.61. The company’s 50 day moving average price is $14.79 and its two-hundred day moving average price is $15.86. Sportradar Group AG has a 52 week low of $11.55 and a 52 week high of $32.22.

Sportradar Group (NASDAQ:SRAD) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share for the quarter. Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. The company had revenue of $431.19 million during the quarter. On average, analysts expect that Sportradar Group AG will post 0.27 earnings per share for the current fiscal year.

Sportradar Group Company 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.