Sportradar Group (NASDAQ:SRAD) Trading Up 4.3% – Here’s What Happened

Shares of Sportradar Group AG (NASDAQ:SRAD) shot up 4.3% during mid-day trading on Wednesday . The stock traded as high as $20.72 and last traded at $20.95. 303,952 shares traded hands during trading, a decline of 49% from the average session volume of 591,426 shares. The stock had previously closed at $20.08.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SRAD. JMP Securities restated a “market outperform” rating and set a $19.00 price objective on shares of Sportradar Group in a research report on Monday, January 27th. Jefferies Financial Group raised their price objective on shares of Sportradar Group from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Guggenheim initiated coverage on shares of Sportradar Group in a research report on Wednesday, February 26th. They issued a “buy” rating and a $27.00 price target for the company. Canaccord Genuity Group lifted their price target on shares of Sportradar Group from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Citigroup lifted their price target on shares of Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eight have assigned 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 a consensus price target of $19.67.

Sportradar Group Price Performance

The business’s 50 day moving average is $20.79 and its 200-day moving average is $16.76. The firm has a market capitalization of $24.06 billion, a P/E ratio of 108.19, a PEG ratio of 1.53 and a beta of 2.19. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI increased its stake in Sportradar Group by 1,366.4% in the fourth quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock valued at $27,000 after acquiring an additional 1,462 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Sportradar Group during the fourth quarter worth $28,000. US Bancorp DE bought a new stake in shares of Sportradar Group during the fourth quarter worth $39,000. Loomis Sayles & Co. L P bought a new stake in shares of Sportradar Group during the fourth quarter worth $43,000. Finally, R Squared Ltd bought a new stake in shares of Sportradar Group during the fourth quarter worth $44,000.

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.