Sportradar Group (NASDAQ:SRAD) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Sportradar Group AG (NASDAQ:SRAD) saw unusually-strong trading volume on Tuesday . Approximately 323,986 shares were traded during mid-day trading, a decline of 27% from the previous session’s volume of 443,859 shares.The stock last traded at $16.91 and had previously closed at $17.65.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SRAD shares. JMP Securities upgraded Sportradar Group from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a report on Wednesday, September 4th. Jefferies Financial Group upgraded shares of Sportradar Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $12.00 to $16.00 in a report on Wednesday, August 14th. Morgan Stanley upped their price objective on shares of Sportradar Group from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Benchmark raised their target price on Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Sportradar Group in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Sportradar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Sportradar Group Trading Up 0.4 %

The stock has a market capitalization of $19.04 billion, a PE ratio of 86.30, a P/E/G ratio of 2.16 and a beta of 2.05. 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 firm has a 50 day moving average price of $13.61 and a 200 day moving average price of $11.95.

Hedge Funds Weigh In On Sportradar Group

A number of hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in shares of Sportradar Group by 14.9% in the third quarter. Janus Henderson Group PLC now owns 3,582,528 shares of the company’s stock valued at $43,384,000 after purchasing an additional 463,441 shares during the last quarter. Millennium Management LLC grew its position in Sportradar Group by 133.7% in the 2nd quarter. Millennium Management LLC now owns 1,636,129 shares of the company’s stock worth $18,292,000 after purchasing an additional 935,909 shares in the last quarter. Portolan Capital Management LLC bought a new stake in Sportradar Group in the 3rd quarter worth about $12,061,000. Divisadero Street Capital Management LP purchased a new stake in Sportradar Group in the 2nd quarter valued at about $8,392,000. Finally, AM Investment Strategies LLC lifted its position in shares of Sportradar Group by 31.1% during the 2nd quarter. AM Investment Strategies LLC now owns 465,540 shares of the company’s stock worth $5,205,000 after buying an additional 110,520 shares in the last quarter.

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.