Sportradar Group (NASDAQ:SRAD) Sets New 52-Week High - Here's Why

Shares of Sportradar Group AG (NASDAQ:SRAD - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $26.08 and last traded at $25.96, with a volume of 400867 shares trading hands. The stock had previously closed at $25.20.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SRAD shares. JPMorgan Chase & Co. raised their target price on shares of Sportradar Group from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Jefferies Financial Group lifted their price objective on Sportradar Group from $23.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. Guggenheim reiterated a "buy" rating and set a $27.00 target price on shares of Sportradar Group in a research report on Thursday, April 3rd. Benchmark lifted their price target on Sportradar Group from $26.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Finally, Citigroup increased their price objective on shares of Sportradar Group from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, March 20th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.38.

Sportradar Group Stock Performance

The company's fifty day simple moving average is $23.76 and its two-hundred day simple moving average is $21.43. The company has a market capitalization of $28.81 billion, a price-to-earnings ratio of 136.27 and a beta of 2.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The business had revenue of $336.71 million for the quarter, compared to analysts' expectations of $318.81 million. Sportradar Group had a return on equity of 6.38% and a net margin of 5.16%. The firm's revenue was up 17.0% compared to the same quarter last year. Equities research analysts predict that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in Sportradar Group by 43.9% during the first quarter. Pacer Advisors Inc. now owns 1,759 shares of the company's stock worth $38,000 after buying an additional 537 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Sportradar Group by 34.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company's stock worth $46,000 after acquiring an additional 551 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Sportradar Group by 1.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 43,530 shares of the company's stock worth $755,000 after acquiring an additional 691 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Sportradar Group by 3.7% in the 4th quarter. LPL Financial LLC now owns 35,663 shares of the company's stock worth $618,000 after acquiring an additional 1,287 shares during the last quarter. Finally, XTX Topco Ltd raised its position in shares of Sportradar Group by 5.8% during the fourth quarter. XTX Topco Ltd now owns 25,591 shares of the company's stock worth $444,000 after purchasing an additional 1,414 shares during the period.

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.