Sportradar Group (NASDAQ:SRAD) Shares Gap Up - Here's What Happened

Key Points

• Sportradar shares jumped sharply, opening at $14.74 versus a prior close of $12.87, before trading near $14.62 on volume of roughly 724,000 shares.
• Analyst sentiment remains positive but mixed: the stock has a consensus “Moderate Buy” rating and an $18.03 price target, although several firms recently lowered ratings or targets.
• Quarterly revenue rose 24.1% year over year to $410.62 million, beating estimates, while EPS of $0.10 narrowly missed the $0.11 consensus forecast.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report)'s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $12.87, but opened at $14.74. Sportradar Group shares last traded at $14.6160, with a volume of 724,327 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SRAD. BTIG Research lowered Sportradar Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 4th. Citigroup reiterated a "market outperform" rating on shares of Sportradar Group in a report on Tuesday, September 8th. Canaccord Genuity Group decreased their price target on shares of Sportradar Group from $24.00 to $22.00 and set a "buy" rating for the company in a report on Friday, October 23rd. Benchmark reissued a "buy" rating on shares of Sportradar Group in a research report on Friday, August 28th. Finally, Morgan Stanley cut their price target on shares of Sportradar Group from $15.00 to $13.50 and set an "equal weight" rating on the stock in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Sportradar Group has an average rating of "Moderate Buy" and a consensus price target of $18.03.

Sportradar Group Price Performance

The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 247.97 and a beta of 1.59. 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 is $12.49 and its 200-day moving average is $14.94.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $410.62 million for the quarter, compared to analyst estimates of $405.74 million. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%. The business's revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. Equities research analysts expect that Sportradar Group AG will post 0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sportradar Group

Several large investors have recently made changes to their positions in the company. Choreo LLC boosted its stake in Sportradar Group by 23.5% in the third quarter. Choreo LLC now owns 23,144 shares of the company's stock valued at $268,000 after acquiring an additional 4,403 shares during the last quarter. Vontobel Holding Ltd. grew its holdings 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 acquiring an additional 4,359 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Sportradar Group during the 2nd quarter valued at $560,000. Squarepoint Ops LLC raised its position in shares of Sportradar Group by 3.2% during the 2nd quarter. Squarepoint Ops LLC now owns 30,518 shares of the company's stock valued at $457,000 after acquiring an additional 958 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Sportradar Group during the 2nd quarter valued at $1,704,000.

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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