Sportradar Group (NASDAQ:SRAD) Shares Down 13.8% Following Weak Earnings

Sportradar Group AG (NASDAQ:SRAD)’s stock price was down 13.8% during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $16.77 and last traded at $16.8770. Approximately 1,053,753 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 2,748,418 shares. The stock had previously closed at $19.58.

The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.08). Sportradar Group had a return on equity of 9.97% and a net margin of 7.84%.The business had revenue of $432.81 million for the quarter, compared to analyst estimates of $369.59 million. The company’s revenue was up 20.2% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SRAD shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sportradar Group in a research report on Monday, December 29th. Stifel Nicolaus assumed coverage on shares of Sportradar Group in a research report on Thursday, January 22nd. They set a “buy” rating and a $28.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Sportradar Group from $30.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. UBS Group decreased their price objective on shares of Sportradar Group from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, December 9th. Finally, Guggenheim lifted their target price on shares of Sportradar Group from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sportradar Group currently has an average rating of “Moderate Buy” and an average price target of $31.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Sportradar Group during the second quarter valued at approximately $123,087,000. Jericho Capital Asset Management L.P. bought a new stake in Sportradar Group during the 4th quarter valued at $75,117,000. Invesco Ltd. raised its holdings in Sportradar Group by 536.7% during the second quarter. Invesco Ltd. now owns 2,972,813 shares of the company’s stock worth $83,477,000 after buying an additional 2,505,890 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in Sportradar Group during the fourth quarter worth $52,643,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Sportradar Group by 19.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock valued at $287,158,000 after buying an additional 1,929,037 shares in the last quarter.

Sportradar Group Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.36 and a quick ratio of 1.36. The business’s fifty day moving average price is $19.40 and its 200-day moving average price is $23.89. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 52.74 and a beta of 2.00.

Sportradar Group Company Profile

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.