Sportradar Group (NASDAQ:SRAD) Sets New 12-Month High on Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD)’s stock price hit a new 52-week high during trading on Thursday after Citigroup raised their price target on the stock from $25.00 to $27.00. Citigroup currently has a buy rating on the stock. Sportradar Group traded as high as $22.98 and last traded at $22.06, with a volume of 10229 shares changing hands. The stock had previously closed at $22.80.

Several other equities research analysts also recently commented on SRAD. Canaccord Genuity Group boosted their target price on shares of Sportradar Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and issued a $19.00 target price on shares of Sportradar Group in a research note on Monday, January 27th. Needham & Company LLC boosted their target price on shares of Sportradar Group from $18.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Sportradar Group from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Guggenheim assumed coverage on shares of Sportradar Group in a research report on Wednesday, February 26th. They set a “buy” rating and a $27.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

Institutional Trading of Sportradar Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Sportradar Group by 120.8% during the 3rd 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 last quarter. Jane Street Group LLC bought a new stake in Sportradar Group during the 3rd quarter worth about $479,000. Cornerstone Investment Partners LLC bought a new stake in Sportradar Group during the 4th quarter worth about $199,000. Moody National Bank Trust Division raised its holdings in Sportradar Group by 80.6% during the 4th quarter. Moody National Bank Trust Division now owns 136,926 shares of the company’s stock worth $2,374,000 after purchasing an additional 61,105 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Sportradar Group during the 4th quarter worth about $406,000.

Sportradar Group Price Performance

The stock has a market capitalization of $24.79 billion, a P/E ratio of 111.51, a PEG ratio of 1.53 and a beta of 2.19. 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 company has a fifty day simple moving average of $20.95 and a two-hundred day simple moving average of $16.84.

Sportradar Group Company Profile

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.