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

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

The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.08). Sportradar Group had a net margin of 7.84% and a return on equity of 9.97%. The business had revenue of $432.81 million during the quarter, compared to the consensus estimate of $369.59 million. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SRAD shares. UBS Group lowered their price target on Sportradar Group from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. Wells Fargo & Company lowered their target price on shares of Sportradar Group from $30.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sportradar Group in a research report on Monday, December 29th. Stifel Nicolaus initiated coverage on shares of Sportradar Group in a research note on Thursday, January 22nd. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Citizens Jmp dropped their target price on shares of Sportradar Group from $36.00 to $34.00 and set a “market outperform” rating on the stock in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.47.

Hedge Funds Weigh In On Sportradar Group

A number of hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its stake in Sportradar Group by 93.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company’s stock valued at $31,000 after purchasing an additional 620 shares in the last quarter. Empowered Funds LLC bought a new position in Sportradar Group in the 4th quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Sportradar Group during the 4th quarter valued at $45,000. Tower Research Capital LLC TRC grew its position 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 acquiring an additional 1,620 shares during the last quarter. Finally, CWM LLC increased its holdings in Sportradar Group by 316.0% in the 4th quarter. CWM LLC now owns 2,475 shares of the company’s stock worth $59,000 after purchasing an additional 1,880 shares in the last quarter.

Sportradar Group Trading Down 13.2%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 52.74 and a beta of 2.00. The business has a fifty day simple moving average of $19.40 and a 200-day simple moving average of $23.89.

About Sportradar Group

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.