Sportradar Group (NASDAQ:SRAD) Sets New 1-Year High - Here's Why

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.49 and last traded at $22.83, with a volume of 981532 shares trading hands. The stock had previously closed at $22.99.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Canaccord Genuity Group raised their price objective on shares of Sportradar Group from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, March 20th. Guggenheim began coverage on Sportradar Group in a research note on Wednesday, February 26th. They issued a "buy" rating and a $27.00 price target on the stock. 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 report on Thursday, March 20th. JMP Securities reissued a "market outperform" rating and set a $19.00 price target on shares of Sportradar Group in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sportradar Group from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Sportradar Group presently has a consensus rating of "Moderate Buy" and an average target price of $24.67.

Sportradar Group Price Performance

The firm has a 50-day moving average of $21.26 and a 200-day moving average of $17.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market capitalization of $24.34 billion, a P/E ratio of 109.61, a PEG ratio of 1.53 and a beta of 2.19.

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Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.04). Sportradar Group had a net margin of 5.61% and a return on equity of 6.69%. The business had revenue of $307.00 million for the quarter, compared to the consensus estimate of $294.60 million. As a group, analysts predict that Sportradar Group AG will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI grew its position in Sportradar Group by 1,366.4% in the 4th 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 during the period. SBI Securities Co. Ltd. purchased a new position in shares of Sportradar Group in the 4th quarter worth $28,000. US Bancorp DE bought a new stake in shares of Sportradar Group in the fourth quarter worth $39,000. Loomis Sayles & Co. L P purchased a new stake in Sportradar Group during the fourth quarter valued at $43,000. Finally, R Squared Ltd bought a new position in Sportradar Group in the fourth quarter valued at about $44,000.

About Sportradar Group

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.