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

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

Wall Street Analyst Weigh In

SRAD has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price target on Sportradar Group from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, October 26th. Morgan Stanley decreased their price objective on Sportradar Group from $15.00 to $13.50 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Needham & Company LLC dropped their price objective on shares of Sportradar Group from $23.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Benchmark reiterated a “buy” rating on shares of Sportradar Group in a report on Friday, August 28th. Finally, Guggenheim decreased their target price on Sportradar Group from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Sportradar Group has a consensus rating of “Moderate Buy” and a consensus price target of $18.03.

Sportradar Group Stock Up 7.0%

The business has a 50 day moving average of $12.49 and a 200 day moving average of $14.98. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 214.54 and a beta of 1.66. 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 posted its earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $431.19 million during the quarter. Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. On average, equities analysts anticipate that Sportradar Group AG will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allied Private Wealth LLC bought a new position in Sportradar Group in the 2nd quarter valued at $61,000. Rockefeller Capital Management L.P. grew its holdings in shares of Sportradar Group by 4,969.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,982 shares of the company’s stock valued at $142,000 after buying an additional 5,864 shares during the period. Byrne Asset Management LLC bought a new stake in shares of Sportradar Group in the second quarter worth about $176,000. Parallel Advisors LLC raised its holdings in Sportradar Group by 6.1% during the 1st quarter. Parallel Advisors LLC now owns 16,388 shares of the company’s stock worth $274,000 after buying an additional 937 shares during the period. Finally, Counterpoint Mutual Funds LLC raised its holdings in shares of Sportradar Group by 29.0% during the first quarter. Counterpoint Mutual Funds LLC now owns 16,814 shares of the company’s stock worth $281,000 after acquiring an additional 3,781 shares during the period.

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.