Sportradar Group (NASDAQ:SRAD) Shares Gap Down – What’s Next?

Sportradar Group AG (NASDAQ:SRAD) shares gapped down prior to trading on Wednesday. The stock had previously closed at $12.60, but opened at $12.17. Sportradar Group shares last traded at $12.3910, with a volume of 22,468 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SRAD. Guggenheim lowered their target price on Sportradar Group from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Benchmark reiterated a “buy” rating on shares of Sportradar Group in a research report on Friday, August 28th. Morgan Stanley decreased their price target on shares of Sportradar Group from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. JPMorgan Chase & Co. lowered their price target on shares of Sportradar Group from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, October 20th. Finally, Zacks Research upgraded shares of Sportradar Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.03.

Sportradar Group Stock Down 0.6%

The firm has a 50 day simple moving average of $12.51 and a two-hundred day simple moving average of $15.02. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 205.00 and a beta of 1.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.98 and a quick ratio of 0.98.

Sportradar Group (NASDAQ:SRAD) last issued its earnings results on Tuesday, June 30th. The company reported ($0.01) EPS for the quarter. Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. The firm had revenue of $431.19 million during the quarter. As a group, sell-side analysts expect that Sportradar Group AG will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Sportradar Group

Large investors have recently modified their holdings of the business. Stephens Investment Management Group LLC increased its stake in Sportradar Group by 40.7% during the 1st quarter. Stephens Investment Management Group LLC now owns 3,116,297 shares of the company’s stock worth $52,167,000 after purchasing an additional 901,619 shares in the last quarter. Spruce House Investment Management LLC acquired a new stake in Sportradar Group during the 1st quarter worth approximately $46,035,000. The Manufacturers Life Insurance Company raised its holdings in Sportradar Group by 963.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock worth $41,238,000 after buying an additional 2,231,810 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Sportradar Group during the 2nd quarter worth approximately $32,811,000. Finally, Principal Financial Group Inc. lifted its stake in Sportradar Group by 34.8% in the first quarter. Principal Financial Group Inc. now owns 1,826,209 shares of the company’s stock valued at $30,571,000 after buying an additional 471,309 shares in the last quarter.

Sportradar Group Company Profile

Sportradar Group AG is a sports technology and data company that provides business-to-business solutions to sports federations, leagues, media organizations, sportsbooks and other clients worldwide. The company collects, processes and distributes sports data, helping customers deliver live scores, statistics, schedules, news and other sports content across digital platforms.

Its products and services include real-time data feeds, betting odds and managed betting services, audiovisual content, marketing solutions, fan-engagement tools and sports integrity services.