Sportradar Group (NASDAQ:SRAD) Share Price Crosses Above Fifty Day Moving Average Following Analyst Downgrade

Key Points

• Sportradar shares rose above their 50-day moving average after Zacks Research upgraded the stock from “strong sell” to “hold”; shares reached $12.72 and closed at $12.60.
• Analyst sentiment remains generally positive, with an average “moderate buy” rating and a consensus price target of $18.03, despite several firms recently lowering targets or ratings.
• Several institutional investors increased or initiated positions in Sportradar, while the company reported $431.19 million in quarterly revenue and analysts expect full-year earnings of $0.22 per share.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) shares crossed above its fifty day moving average during trading on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock has a fifty day moving average of $12.55 and traded as high as $12.72. Sportradar Group shares last traded at $12.60, with a volume of 3,682,212 shares.

SRAD has been the topic of a number of other research reports. Citigroup reissued a "market outperform" rating on shares of Sportradar Group in a report on Tuesday, September 8th. UBS Group cut Sportradar Group from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $30.00 to $16.00 in a research report on Wednesday, August 5th. Benchmark reaffirmed a "buy" rating on shares of Sportradar Group in a research report on Friday, August 28th. Guggenheim lowered their target price on Sportradar Group from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Finally, Stifel Nicolaus dropped their target price on Sportradar Group from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $18.03.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SRAD. Vontobel Holding Ltd. increased its position in Sportradar Group by 16.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 31,311 shares of the company's stock worth $362,000 after purchasing an additional 4,359 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Sportradar Group in the 2nd quarter valued at approximately $560,000. Squarepoint Ops LLC lifted its holdings in shares of Sportradar Group by 3.2% in the 2nd quarter. Squarepoint Ops LLC now owns 30,518 shares of the company's stock valued at $457,000 after buying an additional 958 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Sportradar Group in the 2nd quarter valued at approximately $1,704,000. Finally, Allied Private Wealth LLC purchased a new stake in shares of Sportradar Group in the second quarter valued at approximately $61,000.

Sportradar Group Stock Performance

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 stock has a market capitalization of $3.77 billion, a PE ratio of 210.04 and a beta of 1.59. The stock has a 50 day moving average of $12.55 and a two-hundred day moving average of $15.15.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.01) earnings per share 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 during the quarter. Research analysts expect that Sportradar Group AG will post 0.22 EPS for the current fiscal year.

About Sportradar Group

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.

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