Stifel Nicolaus Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $20.00

Key Points

• Stifel Nicolaus lowered its price target on Sportradar Group from $21 to $20, but kept a buy rating. The new target still implies about 40% upside from the current share price.
• Sportradar shares fell 2.8% to $14.27, well below both its 50-day and 200-day moving averages. The stock has traded between $11.66 and $32.22 over the past 12 months.
• The company recently reported mixed quarterly results, missing EPS and revenue estimates even though revenue rose 11.3% year over year. Meanwhile, insiders have been buying shares, including CEO Carsten Koerl and director George Fleet.

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its target price lowered by equities researchers at Stifel Nicolaus from $21.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 40.13% from the company's current price.

Several other research analysts have also issued reports on the company. BTIG Research reduced their price target on Sportradar Group from $23.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Freedom Capital upgraded Sportradar Group to a "strong-buy" rating in a report on Monday. Morgan Stanley increased their target price on Sportradar Group from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 8th. Benchmark restated a "buy" rating on shares of Sportradar Group in a report on Thursday, July 9th. Finally, Truist Financial decreased their target price on Sportradar Group from $26.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.60.

Sportradar Group Trading Down 2.8%

Shares of SRAD traded down $0.42 on Wednesday, reaching $14.27. 947,884 shares of the company's stock were exchanged, compared to its average volume of 3,050,322. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.27 billion, a P/E ratio of 59.48 and a beta of 1.60. The business has a 50 day moving average price of $14.56 and a two-hundred day moving average price of $16.50. Sportradar Group has a 12 month low of $11.66 and a 12 month high of $32.22.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.08). Sportradar Group had a net margin of 5.20% and a return on equity of 7.28%. The business had revenue of $401.11 million during the quarter, compared to the consensus estimate of $417.86 million. During the same period in the previous year, the business posted $0.07 earnings per share. Sportradar Group's revenue was up 11.3% compared to the same quarter last year. Research analysts anticipate that Sportradar Group will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other Sportradar Group news, CEO Carsten Koerl bought 143,000 shares of the firm's stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $13.23 per share, with a total value of $1,891,890.00. Following the completion of the purchase, the chief executive officer owned 2,278,272 shares in the company, valued at approximately $30,141,538.56. The trade was a 6.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George Fleet purchased 7,850 shares of the stock in a transaction on Thursday, April 30th. The stock was acquired at an average price of $12.73 per share, with a total value of $99,930.50. Following the completion of the acquisition, the director directly owned 160,873 shares of the company's stock, valued at approximately $2,047,913.29. This represents a 5.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 357,893 shares of company stock worth $4,668,220 over the last ninety days. Insiders own 85.02% of the company's stock.

Institutional Trading of Sportradar Group

Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Sportradar Group in the first quarter valued at approximately $573,000. Goldman Sachs Group Inc. raised its holdings in shares of Sportradar Group by 175.4% during the first quarter. Goldman Sachs Group Inc. now owns 610,384 shares of the company's stock worth $13,197,000 after acquiring an additional 388,769 shares during the period. Geode Capital Management LLC lifted its position in Sportradar Group by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 182,112 shares of the company's stock valued at $5,114,000 after acquiring an additional 9,162 shares in the last quarter. Cetera Investment Advisers bought a new stake in Sportradar Group in the 2nd quarter valued at $316,000. Finally, Legal & General Group Plc bought a new stake in Sportradar Group in the 2nd quarter valued at $260,000.

About Sportradar Group

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.

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