Sportradar Group (NASDAQ:SRAD) Sees Large Volume Increase Following Better-Than-Expected Earnings

Shares of Sportradar Group AG (NASDAQ:SRAD) saw unusually-high trading volume on Monday following a better than expected earnings announcement. Approximately 1,567,040 shares traded hands during mid-day trading, an increase of 77% from the previous session’s volume of 882,880 shares.The stock last traded at $22.50 and had previously closed at $23.07.

The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Sportradar Group had a return on equity of 6.69% and a net margin of 5.61%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

SRAD has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Sportradar Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. Jefferies Financial Group raised their price target on Sportradar Group from $23.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Canaccord Genuity Group upped their price objective on Sportradar Group from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, April 3rd. Morgan Stanley raised their target price on Sportradar Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, April 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $19.00 price target on shares of Sportradar Group in a research note on Monday, January 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Sportradar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Institutional Trading of Sportradar Group

Several large investors have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Sportradar Group by 3,098.9% during the third quarter. Barclays PLC now owns 5,918 shares of the company’s stock valued at $72,000 after acquiring an additional 5,733 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Sportradar Group by 120.8% in the third quarter. JPMorgan Chase & Co. now owns 52,784 shares of the company’s stock worth $639,000 after purchasing an additional 28,878 shares during the period. Moody National Bank Trust Division raised its stake in Sportradar Group by 80.6% during the fourth quarter. Moody National Bank Trust Division now owns 136,926 shares of the company’s stock worth $2,374,000 after acquiring an additional 61,105 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in Sportradar Group by 85.4% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,762 shares of the company’s stock valued at $48,000 after purchasing an additional 1,272 shares during the period. Finally, Moody Aldrich Partners LLC acquired a new position in Sportradar Group during the 4th quarter valued at about $2,481,000.

Sportradar Group Stock Down 2.7%

The company has a market cap of $24.99 billion, a price-to-earnings ratio of 112.28, a price-to-earnings-growth ratio of 1.53 and a beta of 2.08. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $22.13 and a 200-day simple moving average of $19.67.

About Sportradar Group

Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name.