ST. GALLEN, Switzerland - Sportradar Group AG (NASDAQ: SRAD), a prominent sports technology company, has announced the appointment of Craig Felenstein as its new Chief Financial Officer, effective from June 1, 2024. Felenstein, with a rich background in finance and operations, transitions to Sportradar after a successful tenure as CFO at Lindblad Expeditions (NASDAQ: NASDAQ:LIND).
Bringing nearly three decades of experience, Felenstein has been a part of several US publicly listed companies within the media, entertainment, and digital content sectors.
In his previous role, he managed Lindblad Expeditions' global finance, corporate development, IT, and human resources functions. His appointment at Sportradar will see him overseeing the global finance, accounting, and investor relations departments.
Sportradar's CEO, Carsten Koerl, expressed confidence in Felenstein's capabilities, citing his international experience and a proven track record in building finance organizations. Koerl also acknowledged the contributions of Ger Griffin, Sportradar's outgoing CFO, during a period of significant growth for the company.
Felenstein's career spans several high-profile companies, including Shutterstock (NYSE:SSTK), where he served as Senior Vice President of Investor Relations and Strategic Finance, and Discovery Communications (NASDAQ:WBD), where he held various executive roles, including CFO of Digital and CFO of US Network Revenue.
In response to his new role, Felenstein conveyed his enthusiasm about joining Sportradar, highlighting the company's strong position in the sports technology market and its potential for sustained growth. He aims to work closely with the executive team and board to leverage opportunities and enhance value for clients, partners, and shareholders.
Sportradar, founded in 2001, is known for delivering immersive sports experiences and is a partner to organizations like the ATP, NBA, NHL, MLB, and UEFA. The company covers a vast array of events annually and is dedicated to maintaining integrity in sports through its services.
This development is based on a press release statement issued by Sportradar Group AG.
InvestingPro Insights
As Sportradar Group AG (NASDAQ: SRAD) welcomes Craig Felenstein as its new CFO, the company's financial health and stock performance remain key areas of interest for investors. Sportradar holds a strong cash position relative to its debt, which is a reassuring sign of financial stability. This is particularly relevant given Felenstein's background in finance and operations, as he may leverage this strength to further the company's growth initiatives and strategic investments.
Investors should note that analysts are optimistic about Sportradar's future, expecting net income growth this year. This aligns with the company's potential for sustained growth that Felenstein highlighted. Moreover, two analysts have revised their earnings estimates upwards for the upcoming period, indicating a positive outlook on the company's profitability.
From a valuation perspective, Sportradar's stock has been noted for trading at a low P/E ratio relative to its near-term earnings growth, with an adjusted P/E ratio of 49.01 as of the last twelve months ending Q4 2023. This may suggest that the stock could be undervalued given its growth prospects. Additionally, the company has experienced a significant revenue growth of 20.19% over the last twelve months, which could be a testament to its strong position in the sports technology market and its ability to capitalize on the increasing demand for sports data and analytics.
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