Sportradar Group (NASDAQ:SRAD) Sets New 12-Month High After Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD) hit a new 52-week high on Wednesday after Canaccord Genuity Group raised their price target on the stock from $30.00 to $32.00. Canaccord Genuity Group currently has a buy rating on the stock. Sportradar Group traded as high as $23.60 and last traded at $21.73, with a volume of 3115428 shares. The stock had previously closed at $21.62.

A number of other research firms have also commented on SRAD. Benchmark raised their price target on shares of Sportradar Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. Guggenheim initiated coverage on shares of Sportradar Group in a research report on Wednesday, February 26th. They issued a “buy” rating and a $27.00 price target for the company. Jefferies Financial Group increased their price target on Sportradar Group from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $19.00 price objective on shares of Sportradar Group in a report on Monday, January 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $27.00 target price on shares of Sportradar Group in a report on Wednesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Greenhouse Funds LLLP lifted its stake in Sportradar Group by 2.0% in the 4th quarter. Greenhouse Funds LLLP now owns 9,853,973 shares of the company’s stock valued at $170,868,000 after purchasing an additional 193,962 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Sportradar Group by 14.9% during the 3rd quarter. Janus Henderson Group PLC now owns 3,582,528 shares of the company’s stock valued at $43,384,000 after acquiring an additional 463,441 shares in the last quarter. Unisphere Establishment bought a new stake in Sportradar Group during the 4th quarter worth $51,596,000. Granahan Investment Management LLC raised its position in Sportradar Group by 86.2% in the fourth quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company’s stock valued at $34,836,000 after purchasing an additional 930,310 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Sportradar Group by 47.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,405,428 shares of the company’s stock valued at $24,370,000 after purchasing an additional 454,826 shares in the last quarter.

Sportradar Group Price Performance

The company has a 50 day moving average price of $21.40 and a 200-day moving average price of $17.57. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 105.96, a P/E/G ratio of 1.53 and a beta of 2.19.

Sportradar Group (NASDAQ:SRAD) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.04). The business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $294.60 million. Sportradar Group had a return on equity of 6.69% and a net margin of 5.61%. As a group, equities research analysts predict that Sportradar Group AG will post 0.15 EPS for the current fiscal year.

About Sportradar Group

Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name.