Sportradar Group (NASDAQ:SRAD) Shares Gap Up - Here's What Happened

Sportradar Group AG (NASDAQ:SRAD - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $23.01, but opened at $23.97. Sportradar Group shares last traded at $24.85, with a volume of 282,118 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SRAD. Citigroup raised their target price on shares of Sportradar Group from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, March 20th. Canaccord Genuity Group raised their price target on Sportradar Group from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, April 3rd. Benchmark upped their price objective on Sportradar Group from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Morgan Stanley upped their price target on shares of Sportradar Group from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Sportradar Group from $23.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.00.

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 company has a market cap of $24.63 billion, a price-to-earnings ratio of 110.67, a P/E/G ratio of 1.53 and a beta of 2.10. The business has a 50-day moving average price of $21.82 and a 200 day moving average price of $18.75.

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 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 company had revenue of $307.00 million during the quarter, compared to analyst estimates of $294.60 million. As a group, research analysts expect that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

Several hedge funds have recently made changes to their positions in the company. National Bank of Canada FI raised its stake in Sportradar Group by 1,366.4% during the 4th quarter. National Bank of Canada FI now owns 1,569 shares of the company's stock valued at $27,000 after purchasing an additional 1,462 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Sportradar Group in the 4th quarter valued at about $28,000. US Bancorp DE purchased a new stake in shares of Sportradar Group in the fourth quarter worth approximately $39,000. Loomis Sayles & Co. L P acquired a new stake in shares of Sportradar Group during the fourth quarter worth approximately $43,000. Finally, R Squared Ltd purchased a new position in Sportradar Group during the fourth quarter valued at approximately $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.