Sportradar Group (NASDAQ:SRAD) Shares Up 8.7% – Time to Buy?

Sportradar Group AG (NASDAQ:SRAD) shares rose 8.7% during mid-day trading on Thursday . The company traded as high as $19.31 and last traded at $19.6050. Approximately 2,195,234 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 2,766,587 shares. The stock had previously closed at $18.04.

Wall Street Analyst Weigh In

Several research firms have issued reports on SRAD. Benchmark reiterated a “buy” rating on shares of Sportradar Group in a research note on Wednesday, January 21st. BTIG Research lowered their target price on shares of Sportradar Group from $32.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Wells Fargo & Company dropped their target price on shares of Sportradar Group from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Needham & Company LLC cut their price target on shares of Sportradar Group from $34.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, UBS Group decreased their price objective on shares of Sportradar Group from $39.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.16.

Sportradar Group Price Performance

The stock has a fifty day moving average of $18.53 and a 200-day moving average of $23.22. The firm has a market capitalization of $5.59 billion, a P/E ratio of 56.55 and a beta of 2.00. The company has a quick ratio of 1.36, a current ratio of 1.17 and a debt-to-equity ratio of 0.05.

Sportradar Group (NASDAQ:SRAD) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). The company had revenue of $432.81 million during the quarter, compared to analyst estimates of $369.59 million. Sportradar Group had a net margin of 7.73% and a return on equity of 10.32%. The business’s revenue was up 20.2% on a year-over-year basis. Equities analysts predict that Sportradar Group AG will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Sportradar Group by 19.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock valued at $287,158,000 after buying an additional 1,929,037 shares in the last quarter. Greenhouse Funds LLLP increased its stake in shares of Sportradar Group by 1.6% during the second quarter. Greenhouse Funds LLLP now owns 7,971,654 shares of the company’s stock worth $223,844,000 after purchasing an additional 129,276 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Sportradar Group by 39.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,104,947 shares of the company’s stock worth $164,223,000 after purchasing an additional 1,721,495 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Sportradar Group by 14.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,175,498 shares of the company’s stock worth $85,421,000 after purchasing an additional 409,545 shares during the period. Finally, Jericho Capital Asset Management L.P. bought a new stake in shares of Sportradar Group during the 4th quarter worth $75,117,000.

About Sportradar Group

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.