Sportradar Group (NASDAQ:SRAD) Shares Gap Up – Here’s Why

Shares of Sportradar Group AG (NASDAQ:SRAD) gapped up prior to trading on Tuesday . The stock had previously closed at $23.01, but opened at $23.97. Sportradar Group shares last traded at $24.85, with a volume of 282,118 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SRAD. UBS Group increased their target price on Sportradar Group from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of Sportradar Group in a report on Wednesday, April 2nd. Benchmark lifted their price target on Sportradar Group from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Bank of America raised shares of Sportradar Group from an “underperform” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Sportradar Group from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Sportradar Group Trading Up 9.4 %

The company has a market capitalization of $28.00 billion, a P/E ratio of 126.00, a P/E/G ratio of 1.53 and a beta of 2.10. 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 moving average of $21.74 and a 200-day moving average of $18.61.

Sportradar Group (NASDAQ:SRAD) last released its quarterly earnings data on Wednesday, March 19th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). The company had revenue of $307.00 million for the quarter, compared to the consensus estimate of $294.60 million. Sportradar Group had a net margin of 5.61% and a return on equity of 6.69%. On average, research analysts predict that Sportradar Group AG will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Sportradar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRAD. National Bank of Canada FI boosted its position in shares of Sportradar Group by 1,366.4% during the 4th quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock valued at $27,000 after acquiring an additional 1,462 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Sportradar Group in the 4th quarter worth $28,000. US Bancorp DE bought a new stake in shares of Sportradar Group in the 4th quarter worth about $39,000. Loomis Sayles & Co. L P bought a new position in shares of Sportradar Group in the 4th quarter valued at about $43,000. Finally, R Squared Ltd bought a new stake in Sportradar Group during the fourth quarter worth approximately $44,000.

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.