Sportradar Group (NASDAQ:SRAD) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Sportradar Group (NASDAQ:SRAD) had its price objective cut by JPMorgan Chase & Co. from $15.00 to $13.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently issued reports on the company. BTIG Research downgraded Sportradar Group from a “buy” rating to a “neutral” rating in a report on Tuesday, August 4th. Guggenheim dropped their target price on Sportradar Group from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Citigroup reiterated a “market outperform” rating on shares of Sportradar Group in a research note on Tuesday, September 8th. Benchmark reiterated a “buy” rating on shares of Sportradar Group in a research note on Friday, August 28th. Finally, Truist Financial reduced their price target on shares of Sportradar Group from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Two research analysts have 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.34.

Sportradar Group Price Performance

SRAD opened at $11.99 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $12.59 and its 200 day moving average price is $13.82. Sportradar Group has a fifty-two week low of $11.39 and a fifty-two week high of $27.79. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 195.67 and a beta of 1.59.

Sportradar Group (NASDAQ:SRAD) last issued its earnings results on Tuesday, June 30th. The company reported ($0.01) EPS for the quarter. The company 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%. As a group, sell-side analysts expect that Sportradar Group will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Sportradar Group

A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Sportradar Group by 6.1% during the first 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. Squarepoint Ops LLC grew its holdings in Sportradar Group by 3.2% in the 2nd quarter. Squarepoint Ops LLC now owns 30,518 shares of the company’s stock worth $457,000 after buying an additional 958 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Sportradar Group by 3.8% in the 1st quarter. Glenmede Trust Co. NA now owns 26,470 shares of the company’s stock worth $443,000 after buying an additional 970 shares in the last quarter. SHP Wealth Management acquired a new stake in Sportradar Group in the 4th quarter valued at approximately $86,000. Finally, Counterpoint Mutual Funds LLC increased its position in Sportradar Group by 29.0% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 16,814 shares of the company’s stock valued at $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.