Sportradar Group (NASDAQ:SRAD) Trading Up 7.5% - What's Next?

Key Points

• Sportradar shares rose 7.5% to $13.475 during Tuesday’s mid-day trading, though volume was 64% below the average session level.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $19.19, despite several recent target and rating cuts.
• The company reported quarterly revenue of $431.19 million and a loss of $0.01 per share; analysts expect full-year earnings of approximately $0.25 per share.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) shares 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 changed hands during mid-day trading, a decline of 64% from the average session volume of 2,896,623 shares. The stock had previously closed at $12.54.

Wall Street Analysts Forecast Growth

SRAD has been the topic of several recent research reports. Wolfe Research assumed coverage on Sportradar Group in a research report on Wednesday, September 2nd. They set an "outperform" rating and a $22.00 price objective on the stock. Citizens Jmp cut their target price on Sportradar Group from $24.00 to $20.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 4th. UBS Group cut shares of Sportradar Group from a "buy" rating to a "neutral" rating and reduced their price target for the company from $30.00 to $16.00 in a research report on Wednesday, August 5th. Benchmark reissued a "buy" rating on shares of Sportradar Group in a research note on Friday, August 28th. Finally, BTIG Research lowered shares of Sportradar Group from a "buy" rating to a "neutral" rating in a report on Tuesday, August 4th. Two equities research 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.19.

Sportradar Group Trading Up 6.3%

The firm's 50 day moving average is $13.40 and its 200 day moving average is $14.79. 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 capitalization of $3.99 billion, a PE ratio of 222.95 and a beta of 1.58.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly 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. Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. As a group, equities analysts predict that Sportradar Group AG will post 0.25 EPS for the current year.

Institutional Trading of Sportradar Group

Several large investors have recently modified their holdings of SRAD. Jericho Capital Asset Management L.P. bought a new position in Sportradar Group during the 4th quarter valued at approximately $75,117,000. Stephens Investment Management Group LLC grew its position in shares of Sportradar Group by 40.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 3,116,297 shares of the company's stock worth $52,167,000 after buying an additional 901,619 shares during the last quarter. Spruce House Investment Management LLC purchased a new position in shares of Sportradar Group during the first quarter valued at approximately $46,035,000. The Manufacturers Life Insurance Company increased its stake in shares of Sportradar Group by 963.6% during the first quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company's stock valued at $41,238,000 after buying an additional 2,231,810 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Sportradar Group during the second quarter valued at approximately $32,811,000.

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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