Sportradar Group (NASDAQ:SRAD) Reaches New 52-Week Low - Here's What Happened

Key Points

• Sportradar shares fell 7.4%, reaching a new 52-week low of $11.51 before closing near $11.56, compared with the prior close of $12.48.
• Despite recent target-price reductions, analysts maintain a generally positive view: the stock has a consensus “Moderate Buy” rating and an average price target of $19.19.
• The company reported quarterly revenue of $431.19 million and a loss of $0.01 per share, while its valuation remains elevated at a P/E ratio of 192.70.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) shares reached a new 52-week low during trading on Wednesday. The stock traded as low as $11.51 and last traded at $11.56, with a volume of 2903021 shares traded. The stock had previously closed at $12.48.

Analyst Ratings Changes

Several research firms recently issued reports on SRAD. Benchmark reiterated a "buy" rating on shares of Sportradar Group in a report on Friday, August 28th. Needham & Company LLC dropped their target price on Sportradar Group from $23.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Sportradar Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Canaccord Genuity Group reduced their price target on shares of Sportradar Group from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Finally, Freedom Capital raised shares of Sportradar Group to a "strong-buy" rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.19.

Sportradar Group Stock Down 7.4%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $3.46 billion, a PE ratio of 192.70 and a beta of 1.58. The business's 50 day moving average is $13.16 and its 200-day moving average is $14.54.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.01) EPS for the quarter. The firm 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, analysts predict that Sportradar Group AG will post 0.25 EPS for the current year.

Institutional Trading of Sportradar Group

A number of institutional investors have recently bought and sold shares of the business. Allied Private Wealth LLC acquired a new position in Sportradar Group in the second quarter valued at approximately $61,000. Nomura Asset Management Co. Ltd. raised its holdings in Sportradar Group by 100.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,000 shares of the company's stock worth $71,000 after purchasing an additional 1,500 shares in the last quarter. SHP Wealth Management purchased a new stake in shares of Sportradar Group during the 4th quarter worth approximately $86,000. Rockefeller Capital Management L.P. lifted its position in shares of Sportradar Group by 4,969.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,982 shares of the company's stock worth $142,000 after buying an additional 5,864 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new position in shares of Sportradar Group in the 2nd quarter valued at $176,000.

About Sportradar Group

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.

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