Sportradar dips as top shareholders look to slice stake in secondary offering

** U.S.-listed shares of sports technology company Sportradar SRAD fall 2.8% to $24.33 premarket

** Switzerland-based co late Tuesday unveiled secondary stock offering wherein shareholders are parting ways with 23 million shares

** Top shareholders Canada Pension Plan Investment Board and Technology Crossover Ventures are among the shareholders selling stake apart from SRAD CEO Carsten Koerl

** SRAD has authorized the concurrent share repurchase of up to $75 million worth of shares from the underwriters

** Goldman Sachs and J.P. Morgan are the joint book-running managers for the secondary offering

** SRAD closed up 8.8% at $25.04 on Tuesday after BofA double upgraded the stock on global online sports betting growth

** 13 of 15 brokerages rate the stock "buy" or higher and two "hold"; median PT $27 - data compiled by LSEG

** As of last close, SRAD stock jumped 44% YTD