Sportradar Group (NASDAQ:SRAD) Stock Price Down 4.3% – What’s Next?

Shares of Sportradar Group AG (NASDAQ:SRAD) dropped 4.3% during trading on Thursday . The company traded as low as $12.69 and last traded at $12.6630. 835,763 shares traded hands during trading, a decline of 71% from the average daily volume of 2,917,356 shares. The stock had previously closed at $13.23.

Analyst Ratings Changes

SRAD has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on Sportradar Group from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Needham & Company LLC cut their price objective on shares of Sportradar Group from $23.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of Sportradar Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Wells Fargo & Company set a $20.00 price target on shares of Sportradar Group in a research report on Tuesday, August 4th. Finally, Citigroup reissued a “market outperform” rating on shares of Sportradar Group in a research report on Tuesday, September 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sportradar Group currently has a consensus rating of “Moderate Buy” and an average price target of $19.19.

Sportradar Group Trading Down 4.9%

The firm has a fifty day simple moving average of $13.59 and a two-hundred day simple moving average of $14.92. The stock has a market cap of $3.77 billion, a PE ratio of 209.78 and a beta of 1.58. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.06.

Sportradar Group (NASDAQ:SRAD) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.01) earnings per share (EPS) for the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%.The company had revenue of $431.19 million for the quarter. As a group, equities analysts expect that Sportradar Group AG will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SRAD. Jericho Capital Asset Management L.P. bought a new position in shares of Sportradar Group during the fourth quarter valued at approximately $75,117,000. Spruce House Investment Management LLC purchased a new position in Sportradar Group during the 1st quarter valued at $46,035,000. The Manufacturers Life Insurance Company raised its holdings in Sportradar Group by 963.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock worth $41,238,000 after purchasing an additional 2,231,810 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Sportradar Group in the 2nd quarter worth $32,811,000. Finally, Norges Bank purchased a new stake in shares of Sportradar Group in the 4th quarter worth about $35,866,000.

Sportradar Group Company Profile

Sportradar Group AG is a global sports technology company that provides data, content and technology solutions to sports organizations, media companies, betting operators and other customers. Its services are designed to support sports coverage, audience engagement, digital platforms and sports betting operations.

The company collects, processes and distributes sports data, including live scores, statistics and related information. Its product offerings also include betting technology and odds solutions, audiovisual sports content, marketing and fan-engagement tools, and services focused on sports integrity and the detection of suspicious activity.

Sportradar serves customers across multiple regions, including Europe, North America and other international markets, covering a broad range of sports.