Sportradar Group (NASDAQ:SRAD) Shares Gap Up – Should You Buy?

Shares of Sportradar Group AG (NASDAQ:SRAD) gapped up before the market opened on Tuesday. The stock had previously closed at $12.87, but opened at $14.74. Sportradar Group shares last traded at $14.6160, with a volume of 724,327 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SRAD. Needham & Company LLC increased their price target on shares of Sportradar Group from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Freedom Capital upgraded shares of Sportradar Group to a “strong-buy” rating in a report on Monday, July 20th. Weiss Ratings cut Sportradar Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. BTIG Research cut Sportradar Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 4th. Finally, UBS Group downgraded Sportradar Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $30.00 to $16.00 in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.97.

Sportradar Group Trading Down 2.2%

The firm has a market capitalization of $4.24 billion, a P/E ratio of 177.12 and a beta of 1.66. The stock’s 50-day simple moving average is $12.54 and its two-hundred day simple moving average is $14.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.98 and a quick ratio of 0.98.

Sportradar Group (NASDAQ:SRAD) last posted its earnings results on Tuesday, November 3rd. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $410.62 million for the quarter, compared to analysts’ expectations of $405.74 million. Sportradar Group had a net margin of 1.47% and a return on equity of 2.42%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. Equities research analysts expect that Sportradar Group AG will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Sportradar Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spruce House Investment Management LLC acquired a new stake in Sportradar Group during the 1st quarter valued at approximately $46,035,000. The Manufacturers Life Insurance Company increased its stake in shares of 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 valued at $41,238,000 after purchasing an additional 2,231,810 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Sportradar Group during the 2nd quarter worth approximately $32,811,000. Sellaronda Global Management LP purchased a new position in Sportradar Group during the first quarter valued at $12,136,000. Finally, Principal Financial Group Inc. boosted its holdings in Sportradar Group by 34.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,826,209 shares of the company’s stock worth $30,571,000 after buying an additional 471,309 shares during 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.