Sportradar Group (NASDAQ:SRAD) Sees Strong Trading Volume Following Strong Earnings

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) shares saw unusually-strong trading volume on Monday following a stronger than expected earnings report. Approximately 1,567,040 shares changed hands during trading, an increase of 77% from the previous session's volume of 882,880 shares.The stock last traded at $22.50 and had previously closed at $23.07.

The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The company had revenue of $336.71 million for the quarter, compared to the consensus estimate of $318.81 million. Sportradar Group had a net margin of 5.61% and a return on equity of 6.69%. Sportradar Group's revenue was up 17.0% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SRAD shares. BTIG Research started coverage on Sportradar Group in a research note on Friday, April 11th. They set a "buy" rating and a $28.00 target price for the company. Guggenheim reissued a "buy" rating and set a $27.00 target price on shares of Sportradar Group in a research note on Thursday, April 3rd. UBS Group increased their target price on Sportradar Group from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Bank of America raised shares of Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 price target for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Sportradar Group from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $27.00.

Institutional Investors Weigh In On Sportradar Group

Hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its holdings in shares of Sportradar Group by 1,366.4% during the fourth quarter. National Bank of Canada FI now owns 1,569 shares of the company's stock valued at $27,000 after purchasing an additional 1,462 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Sportradar Group in the fourth quarter valued at about $28,000. Pacer Advisors Inc. lifted its holdings in Sportradar Group by 43.9% in the first quarter. Pacer Advisors Inc. now owns 1,759 shares of the company's stock valued at $38,000 after acquiring an additional 537 shares during the period. US Bancorp DE bought a new position in Sportradar Group in the fourth quarter valued at about $39,000. Finally, Atlas Capital Advisors Inc. bought a new position in Sportradar Group in the first quarter valued at about $52,000.

Sportradar Group Price Performance

The firm has a 50 day moving average price of $22.44 and a 200 day moving average price of $19.95. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The stock has a market cap of $26.68 billion, a P/E ratio of 119.91, a P/E/G ratio of 1.53 and a beta of 2.08.

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.