Sportradar Group (NASDAQ:SRAD) Sees Strong Trading Volume - Here's Why

Shares of Sportradar Group AG (NASDAQ:SRAD - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,523,893 shares changed hands during mid-day trading, an increase of 55% from the previous session's volume of 985,840 shares.The stock last traded at $24.38 and had previously closed at $24.23.

Wall Street Analyst Weigh In

SRAD has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Sportradar Group from $22.00 to $23.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Guggenheim reissued a "buy" rating and set a $27.00 price objective on shares of Sportradar Group in a report on Thursday, April 3rd. Benchmark upped their target price on Sportradar Group from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Bank of America raised Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 price target for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group upped their price objective on Sportradar Group from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Sportradar Group has an average rating of "Moderate Buy" and an average target price of $27.00.

Sportradar Group Stock Performance

The company has a market cap of $28.19 billion, a PE ratio of 126.66, a PEG ratio of 1.53 and a beta of 2.04. The stock has a 50 day simple moving average of $23.30 and a two-hundred day simple moving average of $21.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.53.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Sportradar Group had a return on equity of 6.69% and a net margin of 5.61%. The firm had revenue of $336.71 million during the quarter, compared to the consensus estimate of $318.81 million. The firm's quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts predict that Sportradar Group AG will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Sportradar Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. purchased a new stake in shares of Sportradar Group in the fourth quarter valued at about $3,626,000. Mackenzie Financial Corp acquired a new position in shares of Sportradar Group during the 4th quarter worth approximately $1,236,000. Cornerstone Investment Partners LLC purchased a new stake in Sportradar Group in the 4th quarter valued at approximately $199,000. Renaissance Technologies LLC grew its holdings in Sportradar Group by 79.2% during the 4th quarter. Renaissance Technologies LLC now owns 382,310 shares of the company's stock valued at $6,629,000 after buying an additional 169,010 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Sportradar Group during the fourth quarter worth $406,000.

Sportradar Group Company Profile

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.