Concentric Capital Strategies LP Acquires Shares of 314,241 Sportradar Group AG (NASDAQ:SRAD)

Concentric Capital Strategies LP purchased a new position in Sportradar Group AG (NASDAQ:SRAD - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 314,241 shares of the company's stock, valued at approximately $3,805,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP lifted its stake in shares of Sportradar Group by 187.4% during the 2nd quarter. Quarry LP now owns 2,690 shares of the company's stock worth $30,000 after acquiring an additional 1,754 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Sportradar Group during the 3rd quarter valued at about $41,000. nVerses Capital LLC boosted its position in Sportradar Group by 120.0% in the 2nd quarter. nVerses Capital LLC now owns 4,400 shares of the company's stock valued at $49,000 after buying an additional 2,400 shares during the period. Lazard Asset Management LLC bought a new position in Sportradar Group in the 1st quarter worth about $60,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Sportradar Group during the second quarter worth approximately $75,000.

Sportradar Group Stock Performance

NASDAQ:SRAD traded up $0.17 during mid-day trading on Tuesday, hitting $17.45. The company's stock had a trading volume of 280,993 shares, compared to its average volume of 454,283. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 86.40, a PEG ratio of 2.12 and a beta of 2.20. The business's fifty day moving average is $14.02 and its two-hundred day moving average is $12.15. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.53. Sportradar Group AG has a 1 year low of $9.17 and a 1 year high of $18.05.

Wall Street Analysts Forecast Growth

SRAD has been the topic of several research analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $16.00 price objective on shares of Sportradar Group in a research note on Wednesday, August 14th. Morgan Stanley raised their target price on shares of Sportradar Group from $12.00 to $13.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 22nd. Benchmark lifted their price objective on shares of Sportradar Group from $14.00 to $16.00 and gave the company a "buy" rating in a report on Friday, November 8th. Citigroup upped their target price on Sportradar Group from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group upgraded Sportradar Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $12.00 to $16.00 in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $16.00.

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.