Sportradar Group (NASDAQ:SRAD) Shares Down 8.6% – Time to Sell?

Sportradar Group AG (NASDAQ:SRAD)’s stock price fell 8.6% during mid-day trading on Wednesday . The company traded as low as $23.89 and last traded at $23.3740. 1,167,884 shares traded hands during trading, a decline of 35% from the average session volume of 1,800,344 shares. The stock had previously closed at $25.58.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Sportradar Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Weiss Ratings upgraded Sportradar Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Morgan Stanley raised their price objective on Sportradar Group from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group assumed coverage on Sportradar Group in a research report on Monday, July 21st. They set a “neutral” rating and a $31.00 price objective for the company. Finally, Needham & Company LLC raised their price objective on Sportradar Group from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.88.

Sportradar Group Price Performance

The stock has a 50 day moving average of $28.18 and a two-hundred day moving average of $27.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $7.02 billion, a P/E ratio of 65.25 and a beta of 2.01.

Sportradar Group (NASDAQ:SRAD) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.13. The business had revenue of $374.25 million for the quarter, compared to the consensus estimate of $315.30 million. Sportradar Group had a return on equity of 11.74% and a net margin of 9.35%.The firm’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Sportradar Group

Several institutional investors have recently bought and sold shares of SRAD. ORG Partners LLC lifted its stake in shares of Sportradar Group by 2,137.8% during the second quarter. ORG Partners LLC now owns 1,007 shares of the company’s stock valued at $28,000 after acquiring an additional 962 shares during the period. Pacer Advisors Inc. grew its stake in Sportradar Group by 43.9% in the first quarter. Pacer Advisors Inc. now owns 1,759 shares of the company’s stock valued at $38,000 after purchasing an additional 537 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Sportradar Group by 3,058.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,579 shares of the company’s stock worth $44,000 after acquiring an additional 1,529 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Sportradar Group by 34.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company’s stock worth $46,000 after purchasing an additional 551 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Sportradar Group by 10,125.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company’s stock worth $46,000 after purchasing an additional 1,620 shares during the last quarter.

About Sportradar Group

Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name.