Sportradar Group (NASDAQ:SRAD) Stock Gets Price Target Reduction from Citizens Jmp

Sportradar Group (NASDAQ:SRAD) had its price target reduced by Citizens Jmp from $20.00 to $19.00 in a research report report published on Wednesday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other analysts have also recently issued reports on SRAD. Needham & Company LLC increased their target price on Sportradar Group from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley decreased their target price on Sportradar Group from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. Wells Fargo & Company set a $20.00 price target on Sportradar Group in a report on Tuesday, August 4th. UBS Group downgraded Sportradar Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $30.00 to $16.00 in a research note on Wednesday, August 5th. Finally, Weiss Ratings lowered shares of Sportradar Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.97.

Sportradar Group Price Performance

Sportradar Group stock traded down $0.63 during mid-day trading on Wednesday, hitting $13.54. The stock had a trading volume of 1,509,970 shares, compared to its average volume of 1,766,400. The firm has a market capitalization of $4.05 billion, a P/E ratio of 169.25 and a beta of 1.66. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $12.58 and its 200 day moving average is $14.84. Sportradar Group has a one year low of $11.39 and a one year high of $24.17.

Sportradar Group (NASDAQ:SRAD) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The business had revenue of $410.62 million during the quarter, compared to analysts’ expectations of $405.74 million. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. On average, sell-side analysts forecast that Sportradar Group will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Spruce House Investment Management LLC bought a new stake in shares of Sportradar Group in the first quarter worth about $46,035,000. The Manufacturers Life Insurance Company boosted its stake in Sportradar Group by 963.6% during the first quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock valued at $41,238,000 after buying an additional 2,231,810 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Sportradar Group during the second quarter valued at approximately $32,811,000. Sellaronda Global Management LP bought a new position in Sportradar Group during the first quarter valued at approximately $12,136,000. Finally, Principal Financial Group Inc. grew its holdings in Sportradar Group by 34.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,826,209 shares of the company’s stock valued at $30,571,000 after buying an additional 471,309 shares in the last quarter.

About Sportradar Group

Sportradar Group AG is a sports technology and data company that provides business-to-business solutions to sports federations, leagues, media organizations, sportsbooks and other clients worldwide. The company collects, processes and distributes sports data, helping customers deliver live scores, statistics, schedules, news and other sports content across digital platforms.

Its products and services include real-time data feeds, betting odds and managed betting services, audiovisual content, marketing solutions, fan-engagement tools and sports integrity services.