Sportradar Group (NASDAQ:SRAD) Shares Gap Down - Here's Why

Key Points

• Sportradar shares opened lower, falling from a prior close of $12.60 to $12.17 before recovering slightly to around $12.39.
• Analyst views remain broadly positive but mixed: the stock has an average “Moderate Buy” rating and an average price target of $18.03, while BTIG downgraded it to “neutral” and Needham cut its target to $17.
• The company reported quarterly revenue of $431.19 million and a loss of $0.01 per share; analysts expect full-year earnings of $0.21 per share. Sportradar has a market capitalization of approximately $3.68 billion.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) shares gapped down before the market opened on Wednesday. The stock had previously closed at $12.60, but opened at $12.17. Sportradar Group shares last traded at $12.3910, with a volume of 22,468 shares trading hands.

Analysts Set New Price Targets

SRAD has been the topic of several recent analyst reports. BTIG Research cut shares of Sportradar Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 4th. Wolfe Research assumed coverage on shares of Sportradar Group in a report on Wednesday, September 2nd. They set an "outperform" rating and a $22.00 price objective for the company. Citigroup reaffirmed a "market outperform" rating on shares of Sportradar Group in a report on Tuesday, September 8th. Weiss Ratings downgraded Sportradar Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 2nd. Finally, Needham & Company LLC decreased their target price on Sportradar Group from $23.00 to $17.00 and set a "buy" rating on the stock in a research 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 MarketBeat.com, Sportradar Group presently has an average rating of "Moderate Buy" and an average target price of $18.03.

Sportradar Group Stock Up 0.4%

The company has a 50 day simple moving average of $12.53 and a two-hundred day simple moving average of $15.10. The company has a market capitalization of $3.68 billion, a P/E ratio of 204.62 and a beta of 1.59.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $431.19 million for the quarter. As a group, research analysts expect that Sportradar Group AG will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

Several hedge funds have recently modified their holdings of the business. Vontobel Holding Ltd. raised its holdings in Sportradar Group by 16.2% in the third quarter. Vontobel Holding Ltd. now owns 31,311 shares of the company's stock worth $362,000 after purchasing an additional 4,359 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Sportradar Group during the 2nd quarter worth approximately $560,000. Squarepoint Ops LLC boosted its position in Sportradar Group by 3.2% during the second quarter. Squarepoint Ops LLC now owns 30,518 shares of the company's stock worth $457,000 after purchasing an additional 958 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Sportradar Group during the second quarter worth approximately $1,704,000. Finally, Allied Private Wealth LLC purchased a new stake in Sportradar Group in the 2nd quarter valued at $61,000.

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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