Divisadero Street Capital Management LP Makes New Investment in Sportradar Group AG (NASDAQ:SRAD)

Divisadero Street Capital Management LP purchased a new position in shares of Sportradar Group AG (NASDAQ:SRAD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 750,667 shares of the company’s stock, valued at approximately $8,392,000. Sportradar Group makes up about 1.3% of Divisadero Street Capital Management LP’s portfolio, making the stock its 18th biggest holding. Divisadero Street Capital Management LP owned 0.07% of Sportradar Group at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SRAD. Renaissance Technologies LLC boosted its stake in shares of Sportradar Group by 65.3% during the second quarter. Renaissance Technologies LLC now owns 343,700 shares of the company’s stock valued at $3,843,000 after purchasing an additional 135,800 shares during the period. Aurora Investment Counsel purchased a new position in shares of Sportradar Group in the fourth quarter valued at about $1,372,000. AM Investment Strategies LLC raised its stake in shares of Sportradar Group by 31.1% during the second quarter. AM Investment Strategies LLC now owns 465,540 shares of the company’s stock valued at $5,205,000 after acquiring an additional 110,520 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Sportradar Group during the first quarter worth about $515,000. Finally, Jump Financial LLC bought a new stake in shares of Sportradar Group in the fourth quarter worth about $302,000.

Sportradar Group Trading Up 1.0 %

Shares of NASDAQ SRAD opened at $12.28 on Friday. The stock has a market cap of $13.64 billion, a P/E ratio of 136.40, a price-to-earnings-growth ratio of 14.85 and a beta of 2.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.54 and a quick ratio of 1.54. Sportradar Group AG has a 1 year low of $8.08 and a 1 year high of $12.62. The firm has a 50-day moving average of $11.38 and a 200 day moving average of $10.81.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SRAD. JPMorgan Chase & Co. began coverage on Sportradar Group in a report on Tuesday, June 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $12.00 price target on shares of Sportradar Group in a report on Wednesday, August 14th. Morgan Stanley upped their price objective on shares of Sportradar Group from $11.50 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Sportradar Group in a research note on Wednesday, August 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price target on shares of Sportradar Group in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Sportradar Group presently has an average rating of “Moderate Buy” and an average price target of $14.63.

About Sportradar Group

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.