Geode Capital Management LLC Sells 61,939 Shares of Sportradar Group AG (NASDAQ:SRAD)

Geode Capital Management LLC decreased its stake in Sportradar Group AG (NASDAQ:SRAD) by 33.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,624 shares of the company’s stock after selling 61,939 shares during the period. Geode Capital Management LLC’s holdings in Sportradar Group were worth $1,509,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Sportradar Group by 3,098.9% during the third quarter. Barclays PLC now owns 5,918 shares of the company’s stock worth $72,000 after buying an additional 5,733 shares in the last quarter. XTX Topco Ltd bought a new stake in Sportradar Group during the 3rd quarter worth $293,000. Jane Street Group LLC acquired a new position in Sportradar Group in the 3rd quarter worth about $479,000. Quarry LP raised its position in Sportradar Group by 264.0% in the third quarter. Quarry LP now owns 9,792 shares of the company’s stock valued at $119,000 after purchasing an additional 7,102 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Sportradar Group by 1,340.3% during the third quarter. Point72 Asset Management L.P. now owns 96,500 shares of the company’s stock valued at $1,169,000 after purchasing an additional 89,800 shares in the last quarter.

Sportradar Group Stock Performance

Shares of SRAD opened at $18.56 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $16.63 and its two-hundred day simple moving average is $13.38. Sportradar Group AG has a 12 month low of $9.17 and a 12 month high of $18.75. The stock has a market capitalization of $20.63 billion, a P/E ratio of 92.80, a price-to-earnings-growth ratio of 2.12 and a beta of 2.18.

Analyst Ratings Changes

SRAD has been the subject of several recent research reports. JPMorgan Chase & Co. raised Sportradar Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $12.00 to $15.00 in a research note on Monday, October 21st. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Sportradar Group in a research report on Thursday, November 7th. Benchmark lifted their price target on shares of Sportradar Group from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup increased their price objective on Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, JMP Securities lifted their target price on Sportradar Group from $17.00 to $19.00 and gave the stock a “market outperform” rating in a report on Monday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.38.

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.