Morgan Stanley Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $24.00

Sportradar Group (NASDAQ:SRAD) had its price target cut by Morgan Stanley from $26.00 to $24.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also issued reports on SRAD. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sportradar Group in a research note on Monday, December 29th. Stifel Nicolaus assumed coverage on Sportradar Group in a research note on Thursday, January 22nd. They issued a “buy” rating and a $28.00 target price for the company. Needham & Company LLC reduced their target price on Sportradar Group from $34.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. The Goldman Sachs Group decreased their price target on Sportradar Group from $35.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. Finally, Benchmark reissued a “buy” rating on shares of Sportradar Group in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sportradar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.22.

Sportradar Group Stock Down 4.7%

SRAD opened at $17.15 on Wednesday. The company has a 50 day moving average of $18.11 and a 200 day moving average of $22.35. The company has a market cap of $5.14 billion, a PE ratio of 51.97 and a beta of 2.00. Sportradar Group has a 12 month low of $15.73 and a 12 month high of $32.22. The company has a current ratio of 1.17, a quick ratio of 1.36 and a debt-to-equity ratio of 0.05.

Sportradar Group (NASDAQ:SRAD) last issued its earnings results on Wednesday, March 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The business had revenue of $432.81 million for 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 revenue for the quarter was up 20.2% on a year-over-year basis. On average, sell-side analysts expect that Sportradar Group will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jericho Capital Asset Management L.P. bought a new position in Sportradar Group in the fourth quarter valued at $75,117,000. Invesco Ltd. boosted its holdings 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 worth $83,477,000 after purchasing an additional 2,505,890 shares in the last quarter. Stephens Investment Management Group LLC purchased a new position in shares of Sportradar Group in the 4th quarter worth about $52,643,000. T. Rowe Price Investment Management Inc. increased its position 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 purchasing an additional 1,929,037 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Sportradar Group by 39.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,104,947 shares of the company’s stock valued at $164,223,000 after purchasing an additional 1,721,495 shares during the last quarter.

About Sportradar Group

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.