Sportradar Group (NASDAQ:SRAD) Sets New 52-Week Low – Here’s Why

Sportradar Group AG (NASDAQ:SRAD) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $11.39 and last traded at $11.41, with a volume of 1,201,489 shares traded. The stock had previously closed at $12.40.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company set a $20.00 price target on Sportradar Group in a report on Tuesday, August 4th. Needham & Company LLC dropped their target price on shares of Sportradar Group from $23.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. JPMorgan Chase & Co. reduced their price objective on Sportradar Group from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Canaccord Genuity Group decreased their target price on Sportradar Group from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Sportradar Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.19.

Sportradar Group Trading Up 4.4%

The company has a market cap of $3.64 billion, a price-to-earnings ratio of 202.37 and a beta of 1.59. The firm has a 50 day moving average price of $12.73 and a two-hundred day moving average price of $13.99. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.06.

Sportradar Group (NASDAQ:SRAD) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share (EPS) for the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%. The firm had revenue of $431.19 million during the quarter. As a group, equities analysts forecast that Sportradar Group AG will post 0.25 earnings per share for the current year.

Institutional Trading of Sportradar Group

Hedge funds have recently modified their holdings of the stock. SHP Wealth Management acquired a new position in shares of Sportradar Group during the fourth quarter valued at about $86,000. Allied Private Wealth LLC bought a new position in shares of Sportradar Group in the second quarter valued at approximately $61,000. Rockefeller Capital Management L.P. raised its stake in shares of Sportradar Group by 4,969.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,982 shares of the company’s stock worth $142,000 after purchasing an additional 5,864 shares during the period. Byrne Asset Management LLC purchased a new position in Sportradar Group in the second quarter valued at about $176,000. Finally, Parallel Advisors LLC grew its holdings in Sportradar Group by 6.1% during the first quarter. Parallel Advisors LLC now owns 16,388 shares of the company’s stock valued at $274,000 after purchasing an additional 937 shares during the period.

About Sportradar Group

Sportradar Group AG is a sports technology company that provides data, content and technology solutions to the global sports, media and betting industries. Its services support the collection, analysis and distribution of sports information across a broad range of competitions and sporting events.

The company offers live sports data, statistics, odds services, betting solutions, audiovisual content and digital media products. It also provides tools for sports organizations and media companies, including fan engagement, marketing, sponsorship and data-driven content solutions.