Sportradar Group AG (NASDAQ:SRAD) Stock Position Increased by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its stake in Sportradar Group AG (NASDAQ:SRAD - Free Report) by 1,340.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,500 shares of the company's stock after acquiring an additional 89,800 shares during the quarter. Point72 Asset Management L.P.'s holdings in Sportradar Group were worth $1,169,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Aurora Investment Counsel lifted its holdings in Sportradar Group by 0.4% in the 3rd quarter. Aurora Investment Counsel now owns 180,544 shares of the company's stock valued at $2,186,000 after purchasing an additional 706 shares in the last quarter. Quarry LP grew its stake in Sportradar Group by 187.4% in 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 period. nVerses Capital LLC boosted its holdings in shares of Sportradar Group by 45.5% during the third quarter. nVerses Capital LLC now owns 6,400 shares of the company's stock worth $78,000 after purchasing an additional 2,000 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Sportradar Group in the third quarter valued at $41,000. Finally, Quantbot Technologies LP purchased a new position in Sportradar Group during the third quarter worth approximately $139,000.

Sportradar Group Stock Performance

Sportradar Group stock traded up $0.60 during midday trading on Wednesday, reaching $17.75. 716,423 shares of the stock traded hands, compared to its average volume of 462,179. The firm has a fifty day moving average price of $14.62 and a two-hundred day moving average price of $12.43. Sportradar Group AG has a fifty-two week low of $9.17 and a fifty-two week high of $18.05. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of 85.75, a PEG ratio of 2.16 and a beta of 2.20. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

SRAD has been the subject of several research analyst reports. Benchmark boosted their target price 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 increased 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. Canaccord Genuity Group reiterated a "buy" rating and issued a $16.00 price target on shares of Sportradar Group in a report on Wednesday, August 14th. JMP Securities raised shares of Sportradar Group from a "market perform" rating to an "outperform" rating and set a $16.00 price objective for the company in a report on Wednesday, September 4th. Finally, Jefferies Financial Group upgraded shares of Sportradar Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $12.00 to $16.00 in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

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.