As of the most recent Form 13F filing with the Securities and Exchange Commission, Appleton Partners Inc. MA has disclosed a reduction in its position in Sportradar Group AG (NASDAQ:SRAD) during the second quarter of this year. The investment management firm reported a decrease of 32.2% in its ownership, selling approximately 10,255 shares and leaving them with 21,596 shares of the company’s stock. Based on their most recent SEC filing, the value of Appleton Partners Inc. MA’s holdings in Sportradar Group amounts to $279,000.
Sportradar Group AG is a renowned global provider of sports betting and entertainment products and services. This recent update regarding Appleton Partners Inc. MA’s divestment from Sportradar Group may pique investors’ interest and prompt them to analyze the current market trend surrounding SRAD.
For those keen on exploring further insights or updates about hedge fund activities related to SRAD or seeking insider trades information, HoldingsChannel.com serves as a valuable resource. By accessing this platform, investors can access the latest 13F filings along with any relevant insider trading activities for Sportradar Group AG (NASDAQ:SRAD).
Investors are advised to conduct thorough due diligence and analysis before making any investment decisions. Market conditions can fluctuate rapidly and individual circumstances should be taken into consideration when evaluating any stock position.
It is important to note that this information is based on public records filed with the Securities and Exchange Commission by Appleton Partners Inc. MA as required by law. Such reports provide valuable transparency into institutional investor activities within the market.
As of September 17, 2023, these developments showcase an adjustment in Appleton Partners Inc.MA’s holdings in Sportradar Group AG (NASDAQ:SRAD). Interested parties are encouraged to stay updated on future developments relating to both SRAD and Appleton Partners Inc.MA through official company filings and announcements.
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Sportradar Group AG Attracts Hedge Funds and Institutional Investors with Positive Growth Potential
Sportradar Group AG, a leading provider of sports data services, has recently caught the attention of multiple hedge funds. Several funds have either increased or decreased their stakes in the company, highlighting the growing interest in this sector.
One notable addition to Sportradar’s investor base is Security Benefit Life Insurance Co. KS, which acquired a new stake worth approximately $27.7 million in the fourth quarter of last year. This move demonstrates the confidence that institutional investors have in Sportradar’s potential for growth and success.
Another major player, Goldman Sachs Group Inc., purchased a new stake valued at around $32.9 million in the first quarter of this year. This investment further solidifies Sportradar as an attractive proposition for those seeking to capitalize on the sports betting and media industries.
ArrowMark Colorado Holdings LLC also took notice of Sportradar’s potential, boosting its position by 37.7% during the fourth quarter. The firm now owns 4,080,175 shares of Sportradar stock, amounting to a value of $40.6 million. Such a significant increase indicates ArrowMark’s confidence in Sportradar’s future performance.
Joining these hedge funds in recognizing Sportradar’s prospects is Durable Capital Partners LP, which raised its holdings by 46% during the first quarter. With an additional 1,040,085 shares added to its portfolio, Durable Capital Partners now holds 3,303,309 shares valued at $54.9 million.
Furthermore, Federated Hermes Inc., known for its expertise in global investment management across various sectors and asset classes, grew its position in Sportradar by 36.5% during the same period. The firm now owns 3,445,190 shares valued at $40.1 million.
Overall, institutional investors and hedge funds currently own approximately 14.93% of Sportradar Group AG’s stock. These investments reflect the growing appeal of the sports data services industry and indicate that market participants recognize Sportradar’s potential for competitive advantage.
Financial analysts have also provided insights into Sportradar’s growth prospects. TheStreet lowered its rating on the company from “c” to “d+” in a research report, possibly due to concerns about recent developments.
Contrastingly, several other brokerages maintained positive stances on Sportradar. Needham & Company LLC increased its price target from $14.00 to $15.00 and labeled the company as a “buy.” Deutsche Bank Aktiengesellschaft mirrored this sentiment by raising Sportradar Group’s target price from $13.00 to $14.00, also giving it a “buy” rating.
Benchmark reaffirmed its confidence in Sportradar with a “buy” rating and set a price target of $14.00 per share.
Based on Bloomberg data, the average consensus rating for Sportradar is currently “Hold,” with one analyst assigning a sell rating, four holding ratings, and four buy ratings. The average target price among analysts is set at $14.00.
For more information about other hedge fund activities connected to Sportradar Group AG (NASDAQ:SRAD), interested parties can consult HoldingsChannel.com for up-to-date 13F filings and insider trades.
On Friday, September 17th, Sportradar Group AG opened at $10.61 per share. The stock’s 50-day moving average stands at $12.97, while its two-hundred day moving average is $12.29.
Despite experiencing fluctuations in value over the past year, with a low of $7.84 and a high of $15.56, Sportradar Group AG currently boasts a market capitalization of $11.78 billion.
As an industry leader, Sportradar Group AG specializes in offering sports data services to the sports betting and media industries in various global markets. Its Betradar brand provides high-quality data services to bookmakers, while its Sportradar Media Services brand caters to the international media industry.
Sportradar’s comprehensive suite of services positions it as a key player in fulfilling the growing demand for accurate and reliable sports data in today’s rapidly evolving sports betting and media landscape. As the market continues to expand, Sportradar is well-positioned for further growth and success.