Sportradar Group (NASDAQ:SRAD) Stock Price Up 8.5% Following Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD - Get Free Report)'s stock price shot up 8.5% during mid-day trading on Friday after Benchmark raised their price target on the stock from $14.00 to $16.00. Benchmark currently has a buy rating on the stock. Sportradar Group traded as high as $15.59 and last traded at $15.52. 1,117,993 shares changed hands during mid-day trading, an increase of 169% from the average session volume of 415,624 shares. The stock had previously closed at $14.31.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group upgraded shares of Sportradar Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $12.00 to $16.00 in a report on Wednesday, August 14th. Morgan Stanley boosted their target price on Sportradar Group from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price objective on shares of Sportradar Group in a research note on Thursday. Canaccord Genuity Group reiterated a "buy" rating and set a $16.00 target price on shares of Sportradar Group in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised Sportradar Group from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $12.00 to $15.00 in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.63.

Institutional Trading of Sportradar Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP increased its position in shares of Sportradar Group by 187.4% during the 2nd quarter. Quarry LP now owns 2,690 shares of the company's stock valued at $30,000 after purchasing an additional 1,754 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Sportradar Group by 45.5% during the 3rd quarter. nVerses Capital LLC now owns 6,400 shares of the company's stock valued at $78,000 after purchasing an additional 2,000 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Sportradar Group by 23.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 25,363 shares of the company's stock worth $295,000 after purchasing an additional 4,789 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Sportradar Group during the first quarter valued at about $60,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Sportradar Group during the second quarter valued at about $75,000.

Sportradar Group Stock Performance

The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average price of $12.29 and a 200 day moving average price of $11.26. The stock has a market cap of $17.63 billion, a PE ratio of 176.24, a P/E/G ratio of 15.93 and a beta of 2.05.

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.