Sportradar Group (NASDAQ:SRAD) Trading 7.5% Higher – What’s Next?

Sportradar Group AG (NASDAQ:SRAD)’s share price traded up 7.5% during mid-day trading on Tuesday . The company traded as high as $13.25 and last traded at $13.4750. 1,046,708 shares traded hands during trading, a decline of 64% from the average daily volume of 2,896,623 shares. The stock had previously closed at $12.54.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Sportradar Group from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Needham & Company LLC reduced their price target on shares of Sportradar Group from $23.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Freedom Capital raised shares of Sportradar Group to a “strong-buy” rating in a research note on Monday, July 20th. BTIG Research downgraded shares of Sportradar Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 4th. Finally, UBS Group lowered shares of Sportradar Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $30.00 to $16.00 in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.19.

Sportradar Group Stock Up 6.3%

The stock’s 50-day moving average price is $13.40 and its two-hundred day moving average price is $14.79. The stock has a market capitalization of $3.99 billion, a PE ratio of 222.95 and a beta of 1.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.98 and a current ratio of 0.98.

Sportradar Group (NASDAQ:SRAD) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share (EPS) for the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%.The business had revenue of $431.19 million during the quarter. As a group, analysts expect that Sportradar Group AG will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Sportradar Group

Several large investors have recently made changes to their positions in SRAD. Jericho Capital Asset Management L.P. bought a new position in Sportradar Group in the 4th quarter worth about $75,117,000. Spruce House Investment Management LLC bought a new stake in Sportradar Group during the 1st quarter valued at about $46,035,000. The Manufacturers Life Insurance Company raised its holdings in Sportradar Group by 963.6% in the first quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock worth $41,238,000 after buying an additional 2,231,810 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Sportradar Group in the 2nd quarter worth approximately $32,811,000. Finally, Norges Bank purchased a new position in shares of Sportradar Group in the fourth quarter worth $35,866,000.

Sportradar Group Company Profile

Sportradar Group AG is a global sports technology company that provides data, content and technology solutions to sports organizations, media companies, betting operators and other customers. Its services are designed to support sports coverage, audience engagement, digital platforms and sports betting operations.

The company collects, processes and distributes sports data, including live scores, statistics and related information. Its product offerings also include betting technology and odds solutions, audiovisual sports content, marketing and fan-engagement tools, and services focused on sports integrity and the detection of suspicious activity.

Sportradar serves customers across multiple regions, including Europe, North America and other international markets, covering a broad range of sports.