Sportradar Group (NASDAQ:SRAD) Shares Gap Up - Still a Buy?

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $12.47, but opened at $12.89. Sportradar Group shares last traded at $12.67, with a volume of 162,862 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Benchmark lifted their target price on Sportradar Group from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $16.00 target price on shares of Sportradar Group in a research note on Wednesday, August 14th. Morgan Stanley lifted their price objective on Sportradar Group from $12.00 to $13.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 22nd. Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Sportradar Group in a research report on Wednesday, August 14th. Finally, JMP Securities raised Sportradar Group from a "market perform" rating to an "outperform" rating and set a $16.00 price objective for the company in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $15.38.

Sportradar Group Trading Up 2.4 %

The firm has a market cap of $14.20 billion, a PE ratio of 140.68, a price-to-earnings-growth ratio of 15.51 and a beta of 2.06. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $12.03 and a 200 day simple moving average of $11.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRAD. Quarry LP boosted its holdings in shares of Sportradar Group by 187.4% in the 2nd quarter. Quarry LP now owns 2,690 shares of the company's stock worth $30,000 after purchasing an additional 1,754 shares in the last quarter. nVerses Capital LLC lifted its holdings in Sportradar Group by 120.0% in the second quarter. nVerses Capital LLC now owns 4,400 shares of the company's stock valued at $49,000 after acquiring an additional 2,400 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Sportradar Group during the 1st quarter worth $60,000. Point72 Asset Management L.P. purchased a new position in Sportradar Group in the 2nd quarter valued at approximately $75,000. Finally, GW Henssler & Associates Ltd. acquired a new position in Sportradar Group during the third quarter valued at approximately $150,000.

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.