Sportradar Group (NASDAQ:SRAD) Reaches New 1-Year Low – Here’s Why

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Canaccord Genuity Group lowered their target price on shares of Sportradar Group from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Wells Fargo & Company set a $20.00 target price on Sportradar Group in a research report on Tuesday, August 4th. Weiss Ratings downgraded shares of Sportradar Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. UBS Group lowered shares of Sportradar Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $30.00 to $16.00 in a report on Wednesday, August 5th. Finally, Zacks Research raised shares of Sportradar Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.19.

Sportradar Group Price Performance

The stock’s fifty day moving average is $12.76 and its 200-day moving average is $14.07. The stock has a market capitalization of $3.45 billion, a PE ratio of 192.12 and a beta of 1.59. 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 released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.01) EPS for the quarter. Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. The firm had revenue of $431.19 million for the quarter. As a group, equities analysts predict that Sportradar Group AG will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SRAD. Jericho Capital Asset Management L.P. acquired a new position in Sportradar Group in the 4th quarter valued at $75,117,000. Spruce House Investment Management LLC purchased a new position in Sportradar Group in the 1st quarter valued at $46,035,000. The Manufacturers Life Insurance Company boosted its stake in Sportradar Group by 963.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock worth $41,238,000 after purchasing an additional 2,231,810 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Sportradar Group in the second quarter valued at about $32,811,000. Finally, Stephens Investment Management Group LLC lifted its position in Sportradar Group by 40.7% during the first quarter. Stephens Investment Management Group LLC now owns 3,116,297 shares of the company’s stock worth $52,167,000 after buying an additional 901,619 shares in the last quarter.

Sportradar Group Company Profile

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.