Sportradar Group (NASDAQ:SRAD) Reaches New 52-Week High - Here's What Happened

Sportradar Group AG (NASDAQ:SRAD - Get Free Report)'s share price 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 changing hands. The stock had previously closed at $22.99.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SRAD. Needham & Company LLC increased their price objective on shares of Sportradar Group from $18.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, March 20th. Jefferies Financial Group raised their price target on shares of Sportradar Group from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their price objective on Sportradar Group from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Canaccord Genuity Group raised their target price on Sportradar Group from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Finally, Benchmark upped their price target on Sportradar Group from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Sportradar Group has a consensus rating of "Moderate Buy" and a consensus target price of $24.67.

Sportradar Group Trading Down 2.3 %

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 stock has a market cap of $24.43 billion, a P/E ratio of 109.91, a P/E/G ratio of 1.53 and a beta of 2.19. The company has a 50-day simple moving average of $21.30 and a 200-day simple moving average of $17.33.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released 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). The business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $294.60 million. Sportradar Group had a net margin of 5.61% and a return on equity of 6.69%. On average, sell-side analysts forecast that Sportradar Group AG will post 0.15 EPS for the current fiscal year.

Institutional Trading of Sportradar Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Unisphere Establishment bought a new position in Sportradar Group in the 4th quarter valued at $51,596,000. Portolan Capital Management LLC bought a new position in Sportradar Group in the third quarter valued at about $12,061,000. Granahan Investment Management LLC increased its position in Sportradar Group by 86.2% in the fourth quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company's stock worth $34,836,000 after purchasing an additional 930,310 shares during the period. Sellaronda Global Management LP bought a new stake in Sportradar Group during the 4th quarter worth about $14,739,000. Finally, Penn Capital Management Company LLC acquired a new position in Sportradar Group during the 4th quarter valued at about $14,029,000.

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.