Millennium Management LLC Has $18.29 Million Stock Position in Sportradar Group AG (NASDAQ:SRAD)

Millennium Management LLC grew its stake in Sportradar Group AG (NASDAQ:SRAD) by 133.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,636,129 shares of the company’s stock after purchasing an additional 935,909 shares during the period. Millennium Management LLC owned about 0.15% of Sportradar Group worth $18,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. nVerses Capital LLC raised its position in Sportradar Group by 120.0% in the second quarter. nVerses Capital LLC now owns 4,400 shares of the company’s stock valued at $49,000 after purchasing an additional 2,400 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sportradar Group during the 1st quarter worth approximately $60,000. Bayesian Capital Management LP acquired a new position in Sportradar Group in the 1st quarter valued at approximately $158,000. Adalta Capital Management LLC raised its stake in shares of Sportradar Group by 69.3% during the first quarter. Adalta Capital Management LLC now owns 16,925 shares of the company’s stock valued at $197,000 after acquiring an additional 6,925 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Sportradar Group during the second quarter worth $189,000.

Sportradar Group Price Performance

Shares of SRAD opened at $12.22 on Friday. The firm has a market cap of $13.58 billion, a PE ratio of 135.79, a price-to-earnings-growth ratio of 15.02 and a beta of 2.06. Sportradar Group AG has a 52-week low of $8.08 and a 52-week high of $12.97. The business’s 50 day moving average price is $11.59 and its two-hundred day moving average price is $10.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 1.54.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SRAD. Benchmark restated a “buy” rating and issued a $12.00 price objective on shares of Sportradar Group in a report on Wednesday, August 14th. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Sportradar Group in a research report on Wednesday, August 14th. Morgan Stanley lifted their price objective on Sportradar Group from $11.50 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. assumed coverage on shares of Sportradar Group in a research report on Tuesday, June 18th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Jefferies Financial Group upgraded shares of Sportradar Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $16.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.