Sportradar Group (NASDAQ:SRAD) Stock Price Up 8.5% – What’s Next?

Sportradar Group AG (NASDAQ:SRAD) was up 8.5% during trading on Monday. The stock traded as high as $13.19 and last traded at $13.0570. Approximately 3,921,710 shares were traded during mid-day trading, an increase of 41% from the average session volume of 2,775,429 shares. The stock had previously closed at $12.03.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SRAD shares. JPMorgan Chase & Co. reduced their price target on Sportradar Group from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, October 20th. Guggenheim reduced their target price on shares of Sportradar Group from $28.00 to $26.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Stifel Nicolaus decreased their price objective on Sportradar Group from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, October 26th. BTIG Research cut shares of Sportradar Group from a “buy” rating to a “neutral” rating in a report on Tuesday, August 4th. Finally, Needham & Company LLC decreased their price target on Sportradar Group from $23.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Sportradar Group has a consensus rating of “Moderate Buy” and an average price target of $18.03.

Sportradar Group Stock Up 7.0%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 214.54 and a beta of 1.66. The firm’s fifty day moving average price is $12.49 and its 200-day moving average price is $14.98.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Spruce House Investment Management LLC bought a new stake in shares of Sportradar Group during the 1st quarter valued at about $46,035,000. Ashford Capital Management Inc. lifted its holdings in shares of Sportradar Group by 35.7% in the 1st quarter. Ashford Capital Management Inc. now owns 719,570 shares of the company’s stock worth $12,046,000 after purchasing an additional 189,290 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Sportradar Group during the second quarter valued at about $1,704,000. Principal Financial Group Inc. boosted its stake in Sportradar Group by 34.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,826,209 shares of the company’s stock valued at $30,571,000 after purchasing an additional 471,309 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Sportradar Group by 963.6% during the first quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock valued at $41,238,000 after buying an additional 2,231,810 shares during 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.