Sportradar Group (NASDAQ:SRAD) Shares Gap Up - Here's Why

Sportradar Group AG (NASDAQ:SRAD - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $23.01, but opened at $23.97. Sportradar Group shares last traded at $24.85, with a volume of 282,118 shares.

Analysts Set New Price Targets

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 target price on shares of Sportradar Group in a report on Wednesday, April 2nd. Bank of America raised Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 price objective on the stock in a research note on Tuesday, April 22nd. Guggenheim reissued a "buy" rating and set a $27.00 target price on shares of Sportradar Group in a research report on Thursday, April 3rd. Citigroup upped their price objective on shares of Sportradar Group from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, March 20th. Finally, Morgan Stanley raised their price target on shares of Sportradar Group from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.00.

Sportradar Group Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market capitalization of $24.98 billion, a PE ratio of 112.26, a P/E/G ratio of 1.53 and a beta of 2.10. The company's fifty day simple moving average is $21.82 and its 200 day simple moving average is $18.87.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.04). Sportradar Group had a net margin of 5.61% and a return on equity of 6.69%. The business had revenue of $307.00 million for the quarter, compared to the consensus estimate of $294.60 million. As a group, equities research analysts expect that Sportradar Group AG will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Unisphere Establishment purchased a new position in Sportradar Group during the fourth quarter valued at approximately $51,596,000. Granahan Investment Management LLC boosted its holdings in Sportradar Group by 86.2% in the 4th quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company's stock valued at $34,836,000 after purchasing an additional 930,310 shares during the period. Sellaronda Global Management LP purchased a new position in shares of Sportradar Group during the 4th quarter valued at $14,739,000. Penn Capital Management Company LLC bought a new position in shares of Sportradar Group in the fourth quarter worth $14,029,000. Finally, New York State Common Retirement Fund bought a new position in shares of Sportradar Group in the fourth quarter worth $12,887,000.

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.