California-based Global IMC sold 253,168 shares of Sportradar Group in the third quarter, reducing its overall position value by about $7.25 million. As of September 30, they held 118,389 SRAD shares worth $3.18 million. The move reflects ongoing fund liquidation and portfolio adjustments.

Global IMC disclosed a significant reduction in its Sportradar Group AG stake, selling 253,168 shares valued at $7.5 million. This reduced their stake to 118,389 shares, totaling $3.18 million. The move represents a shift in their portfolio composition, with SRAD position falling from 45.2% to 13.5% of reportable assets.

As of Friday, SRAD shares were priced at $22.86, up nearly 38% in the past year, outperforming the S&P 500. Sportradar Group provides sports data services, software, and live streaming solutions to sports betting operators, leagues, and media companies worldwide. They reported revenue of $1.23 billion.

Sportradar Group AG is a leading provider of sports data, analytics, and digital content solutions for sports betting and media industries. They reported strong financials in Q3, with revenue up 14% year over year and adjusted EBITDA increasing by 29%. The company expanded its share repurchase authorization to $300 million.

The Motley Fool highlighted Global IMC’s sale of SRAD shares and the company’s solid fundamentals. Despite the reduction in Global IMC’s stake, Sportradar Group reported strong financial performance, including revenue growth, increased EBITDA, and robust cash flow generation.

The Motley Fool’s expert team issued a “Double Down” recommendation for select companies poised for growth. Nvidia, Apple, and Netflix were mentioned as examples of past successful investments. This opportunity is available to Stock Advisor members looking to capitalize on potential market opportunities.

Read more at Yahoo Finance: This Stock Is Up 38% in the Past Year but Just Saw a Big Portfolio Cut