Tuesday’s Top Gainers; Vir Biotechnology, Sportradar Group, & KE Holdings
Vir to replace Matador Resources in S&P SmallCap 600
Vir Biotechnology Inc. (NASDAQ: VIR) was up 19.09% following the announcement that the company will join the S&P SmallCap 600 from April 4, 2022. Investors responded positively to the news, and shares closed at $22.58 in the regular session on Tuesday. In addition, s&P Dow Jones Indices revealed on Tuesday that the company would replace Matador Resources on S&P SmallCap 600 effective Monday, April 4, 2022.
As per the announced changes, S&P MidCap 400 constituent Camden Property Trust (NYSE: CPT) is set to join S&P 500 and will replace People’s United Financial Inc. (NASDAQ: PBCT). On the other hand, Matador Resources has been moved to S&P MidCap 400 to replace Camden Property. People’s United Financial is expected to be acquired by S&P 500 constituent M&T Bank Corp in a deal that will be closed on or around Monday, April 4, 2022.
Sportradar releases Q4 2021 results
Sportradar Group AG (NASDAQ: SRAD) was up 17.34% after announcing its Q4 2021 and FY 2021 earnings and revue results. The company said that full-year 2021 revenue was up 39% to $634.2 million relative to the previous year due to strong growth in all business segments. In addition, adjusted EBITDA was up 33% to $115.3 million, and excluding the company’s IPO costs in September 2021, adjusted EBITDA was $128.5 million.
In the fourth quarter, revenue was up 41% to $172.2 million as the company continued to witness strong performance in the US market, where revenue increased 92% from a year ago. Adjusted EBITDA in the fourth quarter was 14%, up to $24.2 million compared to a year ago. For fiscal 2022 the company is predicting revenue of $752 million to $791 million, representing a growth of 18% to 25% YoY. Also, adjusted EBITDA is projected to be $139 million to $150 million, which is a YoY growth of 21% to 30% compared to fiscal 2021. Adjusted EBITDA margin will range between 18.5% and 19% again over the previous year.
KE Holdings appoint a new independent director
KE Holdings Inc. (NYSE: BEKE) jumped 14.59% after announcing Mr. Wu Jun’s appointment as an independent company director. Beike’s board also appointed Jun as the compensation committee chairperson and a member of the audit committee and nominated him to the board’s corporate governance committee. Following the appointment, Ms. Chen Yu will cease being an independent director of Beike’s board once the current term expires based on career pursuit n and not due to disagreement with the firm. The changes will become effective on March 29, 2022.
CEO and chairman PENG Yongdong said they are delighted to welcome Jun to the board. Yongdong explained that Jun’s experience in finances and capital markets would help enhance the company’s capital markets and corporate development.