Geode Capital Management LLC Reduces Stock Position in Sportradar Group AG (NASDAQ:SRAD)

Geode Capital Management LLC lessened its position in Sportradar Group AG (NASDAQ:SRAD - Free Report) by 33.2% in the third quarter, according to its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of SRAD. GSA Capital Partners LLP boosted its stake in Sportradar Group by 142.7% during the 3rd quarter. GSA Capital Partners LLP now owns 69,095 shares of the company's stock valued at $837,000 after purchasing an additional 40,621 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Sportradar Group in the third quarter valued at approximately $479,000. Millennium Management LLC boosted its position in shares of Sportradar Group by 133.7% during the second quarter. Millennium Management LLC now owns 1,636,129 shares of the company's stock valued at $18,292,000 after buying an additional 935,909 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Sportradar Group by 65.3% during the second quarter. Renaissance Technologies LLC now owns 343,700 shares of the company's stock worth $3,843,000 after buying an additional 135,800 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in Sportradar Group in the 3rd quarter valued at $2,617,000.

Analysts Set New Price Targets

SRAD has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of Sportradar Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $12.00 to $15.00 in a report on Monday, October 21st. Benchmark upped their price objective on shares of Sportradar Group from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Citigroup lifted their target price on shares of Sportradar Group from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 target price on shares of Sportradar Group in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on Sportradar Group from $12.00 to $13.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Sportradar Group currently has an average rating of "Moderate Buy" and a consensus target price of $16.38.

Sportradar Group Stock Performance

NASDAQ:SRAD traded up $0.41 during trading hours on Thursday, reaching $18.56. The stock had a trading volume of 1,109,631 shares, compared to its average volume of 928,922. The stock has a market cap 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. The stock has a 50 day simple moving average of $16.74 and a 200 day simple moving average of $13.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.53 and a current ratio of 1.53. Sportradar Group AG has a 12-month low of $9.17 and a 12-month high of $18.75.

Sportradar Group Company 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.