Sportradar Group (NASDAQ:SRAD) Hits New 12-Month High - Here's What Happened

Key Points

• Sportradar Group AG (NASDAQ:SRAD) shares reached a new 52-week high of $30.73 during trading, reflecting strong investor interest with a trading volume of over 1.46 million shares.
• Several analysts have issued buy ratings for Sportradar, with a consensus target price of $29.88, indicating positive sentiment in the market.
• The company's recent quarterly earnings exceeded expectations, reporting a 14.1% increase in revenue year-over-year, with total revenue of $374.25 million and an EPS of $0.17.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $30.65 and last traded at $30.73, with a volume of 1465360 shares trading hands. The stock had previously closed at $28.99.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SRAD shares. Jefferies Financial Group increased their price objective on Sportradar Group from $27.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Bank of America upgraded Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 price target on the stock in a report on Tuesday, April 22nd. JMP Securities raised their price target on Sportradar Group from $25.00 to $30.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Truist Financial raised their price target on Sportradar Group from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Arete assumed coverage on Sportradar Group in a research note on Wednesday, July 9th. They issued a "neutral" rating and a $31.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Sportradar Group Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $27.93 and a 200-day simple moving average of $24.30. The firm has a market cap of $34.57 billion, a PE ratio of 86.26 and a beta of 2.07.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.13. The firm had revenue of $374.25 million during the quarter, compared to the consensus estimate of $315.30 million. Sportradar Group had a net margin of 9.35% and a return on equity of 11.74%. The company's revenue was up 14.1% on a year-over-year basis. Equities analysts anticipate that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Sportradar Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Castleark Management LLC raised its holdings in shares of Sportradar Group by 26.9% in the second quarter. Castleark Management LLC now owns 326,409 shares of the company's stock valued at $9,166,000 after acquiring an additional 69,150 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Sportradar Group by 10,125.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company's stock worth $46,000 after purchasing an additional 1,620 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Sportradar Group during the second quarter worth about $6,615,000. Wasatch Advisors LP grew its stake in shares of Sportradar Group by 12.3% during the second quarter. Wasatch Advisors LP now owns 665,521 shares of the company's stock worth $18,688,000 after acquiring an additional 72,916 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in Sportradar Group during the second quarter valued at $596,000.

About Sportradar Group

Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name.