Sportradar Group (NASDAQ:SRAD) Sees Strong Trading Volume on Strong Earnings

Sportradar Group AG (NASDAQ:SRAD) shares saw an uptick in trading volume on Monday following a stronger than expected earnings report. 1,567,040 shares were traded during 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 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $336.71 million for the quarter, compared to analyst estimates of $318.81 million. 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.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Morgan Stanley increased 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. JMP Securities reissued a “market outperform” rating and issued a $19.00 target price on shares of Sportradar Group in a report on Monday, January 27th. UBS Group upped their price objective on shares of Sportradar Group from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. Canaccord Genuity Group upped their price objective on shares of Sportradar Group from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, April 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $27.00 price objective on shares of Sportradar Group in a research note on Monday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Sportradar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Institutional Investors Weigh In On Sportradar Group

Several hedge funds have recently made changes to their positions in SRAD. National Bank of Canada FI raised its holdings in Sportradar Group by 1,366.4% during the fourth quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock worth $27,000 after purchasing an additional 1,462 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Sportradar Group during the fourth quarter worth about $28,000. Pacer Advisors Inc. raised its holdings in Sportradar Group by 43.9% during the first quarter. Pacer Advisors Inc. now owns 1,759 shares of the company’s stock worth $38,000 after purchasing an additional 537 shares in the last quarter. US Bancorp DE purchased a new position in Sportradar Group in the fourth quarter valued at about $39,000. Finally, Loomis Sayles & Co. L P purchased a new position in Sportradar Group in the fourth quarter valued at about $43,000.

Sportradar Group Stock Performance

The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $25.96 billion, a PE ratio of 116.66, a PEG ratio of 1.53 and a beta of 2.08. The stock’s fifty day simple moving average is $22.22 and its 200-day simple moving average is $19.77.

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.