BTIG Research Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $24.00

Sportradar Group (NASDAQ:SRAD) had its price objective cut by BTIG Research from $32.00 to $24.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on SRAD. Stifel Nicolaus assumed coverage on shares of Sportradar Group in a research note on Thursday, January 22nd. They issued a “buy” rating and a $28.00 price objective on the stock. Benchmark restated a “buy” rating on shares of Sportradar Group in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sportradar Group in a report on Monday, December 29th. Guggenheim reiterated a “buy” rating on shares of Sportradar Group in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price target on Sportradar Group from $30.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.16.

Sportradar Group Trading Down 3.6%

SRAD opened at $18.55 on Wednesday. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 56.21 and a beta of 2.00. The company has a quick ratio of 1.36, a current ratio of 1.17 and a debt-to-equity ratio of 0.05. Sportradar Group has a twelve month low of $15.73 and a twelve month high of $32.22. The company has a 50-day simple moving average of $19.04 and a 200 day simple moving average of $23.65.

Sportradar Group (NASDAQ:SRAD) last released its earnings results on Tuesday, March 3rd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.09). The firm had revenue of $432.81 million during the quarter, compared to the consensus estimate of $369.59 million. Sportradar Group had a net margin of 7.73% and a return on equity of 10.32%. Sportradar Group’s quarterly revenue was up 20.2% on a year-over-year basis. Analysts predict that Sportradar Group will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Sportradar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRAD. Massachusetts Financial Services Co. MA acquired a new stake in Sportradar Group in the second quarter valued at approximately $123,087,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Sportradar Group during the fourth quarter worth $75,117,000. Invesco Ltd. lifted its stake in shares of Sportradar Group by 536.7% in the 2nd quarter. Invesco Ltd. now owns 2,972,813 shares of the company’s stock valued at $83,477,000 after acquiring an additional 2,505,890 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in shares of Sportradar Group in the 4th quarter valued at $52,643,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Sportradar Group by 19.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock valued at $287,158,000 after acquiring an additional 1,929,037 shares in the last quarter.

Sportradar Group Company Profile

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.