Sportradar: A Little Dip, A Little Hope

by

Sportradar Image

Right. So, the market. It’s…complicated. And Sportradar (SRAD +1.34%). Honestly, it’s been a bit of a rollercoaster. I’ve been trying to be sensible, you know? Diversify. Be a grown-up. But then you see a stock down 26% in a year, and you just…look. Ashford Capital Management seems to have done that too. They’ve taken a little punt, a $12.6 million stake, to be precise. 530,280 shares. It’s not exactly a declaration of undying love, but it’s…something.

February 13th, 2026. A date that will live in…well, probably not history. But it’s the date Ashford decided to dip a toe in. A 1.4% allocation of their 13F assets. Which, let’s be honest, is roughly the amount I spend on oat milk each month. But still. It’s a signal. A tiny, flickering signal in the vast, chaotic wilderness of the stock market.

Here’s where Ashford puts its money (and I spend hours comparing):

  • NASDAQ: GSAT: $60.98 million (6.8% of AUM) – Satellite communications. Very futuristic. I keep expecting a spaceship to land.
  • NASDAQ: LGND: $40.42 million (4.5% of AUM) – Apparently, they’re a ‘legend’. I hope so.
  • NASDAQ: VICR: $38.78 million (4.3% of AUM) – Sounds vaguely medical. I should probably get a check-up.
  • NASDAQ: RDVT: $34.33 million (3.8% of AUM) – No idea.
  • NYSEMKT: VTI: $31.46 million (3.5% of AUM) – A very sensible ETF. I wish I owned more.

And Sportradar, at $16.47 a share. Down, down, down. Underperforming the S&P 500 by a whopping 37.5 percentage points. It’s enough to make you want to hide under the duvet with a box set. But, and this is the important bit, the numbers aren’t terrible.

Let’s break it down, shall we? (I have a spreadsheet. It’s my happy place.)

Metric Value
Price (as of market close 2026-02-13) $16.47
Market capitalization $4.95 billion
Revenue (TTM) $1.23 billion
Net income (TTM) $94.83 million

So, what is Sportradar, exactly? They provide sports data. Apparently, it’s mission-critical. Which sounds…intense. They do software, live streaming. Betradar and Sportradar Media Services are their brands. Basically, they feed the beast that is sports betting. They supply data to leagues, betting operators, media companies. The whole shebang. They’re in Europe, the US, everywhere. It’s a lot of data. A lot.

They have proprietary technology, deep industry partnerships. Real-time data, analytics. They’re trying to be the backbone of the sports betting industry. It’s ambitious. And, frankly, a bit scary. But also…potentially lucrative.

Ashford’s buy…it’s not a grand gesture. It feels more like a cautious toe-dip. A ‘let’s see what happens’ kind of investment. But it’s a signal, nonetheless. Revenue rose 14% year over year to 292 million euros. Adjusted EBITDA climbed 29% to 85 million euros. Margins hit a record 29%. Customer net retention was 114%. They even expanded their share repurchase authorization to $300 million and closed the IMG ARENA acquisition. It’s all very…positive.

So, buying after a weak share price stretch…it doesn’t feel like chasing momentum. It feels like leaning into operating strength that others might not be seeing. Or, at least, not fully appreciating. It’s a bit like finding a perfectly ripe avocado. You just know it’s going to be good.

Will it work? Honestly, who knows. The market is a fickle beast. But, for a small, cautious investment, it feels…reasonable. And sometimes, reasonable is enough. Especially when you’ve spent the last three hours staring at spreadsheets. Units of Cryptocurrency Lost: 0. Hours Spent Watching Charts: 8. Number of Panicked Texts to Friends: 3. (I’m improving.)

Read More

2026-02-17 18:23