The Brisbane Broncos Limited (ASX: BBL) share price has stepped firmly into the green during early trade on Tuesday.

Brisbane Broncos' shares are now exchanging hands at 84 cents apiece, a 16% jump from the opening of trade.

Let's investigate further.

Quick recap on Brisbane Broncos

Brisbane Broncos is a sports entertainment business that is best known for its ownership of the National Rugby League (NRL) football team of the same name.

The Brisbane Broncos franchise generates revenue from sponsorships and from sales of its merchandise and memberships.

At the time of writing, Brisbane Broncos has a market capitalisation of $71 million.

What tailwinds are behind the Brisbane Broncos share price lately?

There has been no market sensitive information released for the company on Tuesday.

However, the Brisbane Broncos share price has been on the move since the company reported its half year results in early August.

Brisbane Broncos' share price – significant uptick since August to date

Source: The Motley Fool

In its report, the company recognised a net profit before income tax (PBIT) of $3.17 million, a significant increase from $22,000 a year ago.

This came from revenue recognition of $25.34 million in the half year ended June 30 2021, underscored by an NRL grant of $7.2 million and sponsorship growth of 26% over the year.

One factor that is important to note, is that the performance for the same time in 2020 "reflects the unprecedented negative impact that Covid-19 restrictions had on the Group".

However, in saying this, the company's half yearly PBIT for 2019 came in at $1.3 million. This means the company still grew its profitability in 2021 when backing Covid-19 out of the equation.

Aside from these driving factors, there has been no market-moving announcements that relate to the company.

However, the recent uptick in the Brisbane Broncos share price from 27 August does show an interesting correlation to the NRL finals series.

For example, several NRL finals games are scheduled at the Brisbane Broncos' home ground, Suncorp Stadium. This is in accordance with the NRL competition being relocated to Queensland due to the Covid-19 pandemic.

In other words, this is an anomaly for the 2021 season, as the majority of NRL finals games would otherwise be played in NSW venues located in Sydney.

As a result, the group is set to benefit from revenues associated with crowd attendance at this venue, that are asymmetrical to previous years.

Brisbane Broncos share price snapshot

The Brisbane Broncos share price has posted a return of 93% over the year to date. This extends the gain over the previous 12 months to 110%.

Both of these results have outpaced the S&P/ASX 200 index (ASX: XJO)'s climb of around 25% over the past year.

The post Why the Brisbane Broncos (ASX:BBL) share price up 16% on Tuesday appeared first on The Motley Fool Australia.

New listing Skydive the Beach Group Limited (ASX: SKB) is following on the heels of Indoor Skydive Australia Group Ltd (ASX: IDZ), which listed in January 2013. Skydive the Beach expects to list on the ASX on March 30, and investors will likely be hoping it has similar results to Indoor SkyDive. It was the best performing IPO of 2013/2014 with a 175% return.

Then we also have the existing players, Super Retail Group Ltd (ASX: SUL) – and its Rebel Sports and Amart Sports stores, Avanti Fitness and Workout World – the latter two acquired in 2013. While the company's latest results weren't exactly stellar, Super Retail is expanding its core competencies such as Automotive and Sports into other similar businesses, which could pay off in the long term.

Catapult Group International Ltd (ASX: CAT) which provides sports teams and athletics associations with hardware and software to analyse performance, monitor rehabilitation, optimise training etc. Catapult already supplies most of Australia's highest-profile sporting teams, including Wallabies, Kangaroos and the Australian Cricket team and has a number of contracts with international teams. We've covered Catapult in more detail here.

Follow the NRL? What about the Brisbane Broncos? Yes, you can invest in the company, Brisbane Broncos Limited (ASX: BBL). The company generates revenues from numerous sources including merchandise sales, game tickets and sponsorship revenues and is primarily concerned with the operations of the Brisbane Broncos NRL team.

Last, but not least, Ardent Leisure Group (ASX: AAD) has its Goodlife gyms and Kingpin and AMF bowling alleys. But the gyms business is struggling, primarily as smaller operators open 24-hour gyms in direct competition with Goodlife.

For my money, I'd consider Catapult first, followed by Ardent Leisure and others bringing up the rear.

The post The ASX's sportiest stocks appeared first on The Motley Fool Australia.