Sportradar Group (NASDAQ:SRAD) Stock Price Down 4.8% – Here’s Why

Sportradar Group AG (NASDAQ:SRAD) was down 4.8% during mid-day trading on Tuesday. The company traded as low as $11.87 and last traded at $11.8750. 682,260 shares changed hands during trading, a decline of 77% from the average session volume of 2,904,115 shares. The stock had previously closed at $12.48.

Analysts Set New Price Targets

A number of analysts have recently commented on SRAD shares. Weiss Ratings raised Sportradar Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Canaccord Genuity Group lowered their price objective on Sportradar Group from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Zacks Research downgraded Sportradar Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. UBS Group downgraded Sportradar Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $16.00 in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. cut their target price on Sportradar Group from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.19.

Sportradar Group Stock Performance

The business’s 50 day simple moving average is $13.11 and its two-hundred day simple moving average is $14.49. The firm has a market capitalization of $3.46 billion, a PE ratio of 192.70 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 issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share for the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%.The business had revenue of $431.19 million for the quarter. Research analysts expect that Sportradar Group AG will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Spruce House Investment Management LLC purchased a new position in Sportradar Group during the 1st quarter valued at about $46,035,000. BW Gestao de Investimentos Ltda. lifted its holdings in shares of Sportradar Group by 133.8% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 233,843 shares of the company’s stock valued at $5,558,000 after purchasing an additional 133,841 shares during the last quarter. Ashford Capital Management Inc. grew its stake in Sportradar Group by 35.7% during the 1st quarter. Ashford Capital Management Inc. now owns 719,570 shares of the company’s stock worth $12,046,000 after buying an additional 189,290 shares during the last quarter. Norges Bank acquired a new position in Sportradar Group during the 4th quarter valued at about $35,866,000. Finally, TD Asset Management Inc increased its position in Sportradar Group by 26.9% during the 4th quarter. TD Asset Management Inc now owns 687,908 shares of the company’s stock valued at $16,352,000 after buying an additional 145,814 shares in the last quarter.

Sportradar Group Company Profile

Sportradar Group AG is a sports technology company that provides data, content and technology solutions to the global sports, media and betting industries. Its services support the collection, analysis and distribution of sports information across a broad range of competitions and sporting events.

The company offers live sports data, statistics, odds services, betting solutions, audiovisual content and digital media products. It also provides tools for sports organizations and media companies, including fan engagement, marketing, sponsorship and data-driven content solutions.