Sportradar Group (NASDAQ:SRAD) Sees Large Volume Increase – Here’s Why

Shares of Sportradar Group AG (NASDAQ:SRAD) saw an uptick in trading volume on Tuesday . 323,986 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 443,859 shares.The stock last traded at $16.91 and had previously closed at $17.65.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SRAD. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Sportradar Group in a research report on Thursday, November 7th. Citigroup raised their target price on Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. raised Sportradar Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $12.00 to $15.00 in a report on Monday, October 21st. Jefferies Financial Group upgraded Sportradar Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $12.00 to $16.00 in a research report on Wednesday, August 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Sportradar Group in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Sportradar Group Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.53 and a current ratio of 1.53. The stock’s fifty day simple moving average is $13.61 and its two-hundred day simple moving average is $11.95. The stock has a market capitalization of $19.04 billion, a P/E ratio of 86.30, a price-to-earnings-growth ratio of 2.16 and a beta of 2.05.

Institutional Trading of Sportradar Group

Several institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Sportradar Group by 14.9% in the 3rd quarter. Janus Henderson Group PLC now owns 3,582,528 shares of the company’s stock valued at $43,384,000 after buying an additional 463,441 shares during the last quarter. Millennium Management LLC raised its holdings in Sportradar Group by 133.7% during the 2nd quarter. Millennium Management LLC now owns 1,636,129 shares of the company’s stock worth $18,292,000 after purchasing an additional 935,909 shares during the last quarter. Portolan Capital Management LLC acquired a new position in shares of Sportradar Group in the 3rd quarter worth approximately $12,061,000. Divisadero Street Capital Management LP bought a new stake in shares of Sportradar Group in the 2nd quarter valued at $8,392,000. Finally, AM Investment Strategies LLC increased its position in shares of Sportradar Group by 31.1% during the second quarter. AM Investment Strategies LLC now owns 465,540 shares of the company’s stock worth $5,205,000 after buying an additional 110,520 shares during the period.

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.