Sportradar Group (NASDAQ:SRAD) Reaches New 1-Year High – Here’s Why

Sportradar Group AG (NASDAQ:SRAD)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.55 and last traded at $17.47, with a volume of 271925 shares traded. The stock had previously closed at $17.22.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SRAD shares. JMP Securities upgraded Sportradar Group from a “market perform” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Wednesday, September 4th. Citigroup upped their price target on Sportradar Group from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday. Benchmark upped their price objective on Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Sportradar Group in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price objective on shares of Sportradar Group in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Sportradar Group Price Performance

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 business has a 50-day moving average price of $13.16 and a 200 day moving average price of $11.70. The stock has a market cap of $19.44 billion, a PE ratio of 87.50, a PEG ratio of 2.68 and a beta of 2.05.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SRAD. GSA Capital Partners LLP lifted its holdings in Sportradar Group by 142.7% during the 3rd quarter. GSA Capital Partners LLP now owns 69,095 shares of the company’s stock worth $837,000 after purchasing an additional 40,621 shares in the last quarter. Millennium Management LLC lifted its holdings in Sportradar Group by 133.7% during the 2nd quarter. Millennium Management LLC now owns 1,636,129 shares of the company’s stock worth $18,292,000 after purchasing an additional 935,909 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Sportradar Group by 65.3% during the 2nd quarter. Renaissance Technologies LLC now owns 343,700 shares of the company’s stock worth $3,843,000 after purchasing an additional 135,800 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Sportradar Group during the 3rd quarter worth about $2,617,000. Finally, Roubaix Capital LLC purchased a new stake in Sportradar Group during the 3rd quarter worth about $4,131,000.

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.