Sportradar Group (NASDAQ:SRAD) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Sportradar Group (NASDAQ:SRAD) in a report published on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $28.00 price objective on the stock.

Several other research analysts have also recently issued reports on the company. Citizens Jmp reduced their price objective on Sportradar Group from $36.00 to $34.00 and set a “market outperform” rating for the company in a research note on Monday, January 5th. UBS Group cut their price target on shares of Sportradar Group from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Sportradar Group in a research note on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of Sportradar Group in a report on Wednesday. Finally, Zacks Research cut shares of Sportradar Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.70.

Sportradar Group Trading Down 2.2%

NASDAQ SRAD opened at $18.16 on Thursday. The company has a fifty day simple moving average of $21.86 and a two-hundred day simple moving average of $26.01. The stock has a market cap of $5.44 billion, a P/E ratio of 56.75 and a beta of 2.01. Sportradar Group has a 12-month low of $17.89 and a 12-month high of $32.22. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.05.

Sportradar Group (NASDAQ:SRAD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $342.71 million for the quarter, compared to analysts’ expectations of $295.04 million. Sportradar Group had a net margin of 7.84% and a return on equity of 9.97%. Sportradar Group’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. On average, analysts forecast that Sportradar Group will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Sportradar Group

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Sportradar Group in the 2nd quarter valued at about $123,087,000. Invesco Ltd. grew its holdings in Sportradar Group by 536.7% in the second quarter. Invesco Ltd. now owns 2,972,813 shares of the company’s stock valued at $83,477,000 after purchasing an additional 2,505,890 shares during the period. Bank of America Corp DE increased its position in shares of Sportradar Group by 491.6% in the third quarter. Bank of America Corp DE now owns 1,728,426 shares of the company’s stock valued at $46,495,000 after buying an additional 1,436,263 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Sportradar Group by 76.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,765,953 shares of the company’s stock valued at $77,668,000 after buying an additional 1,196,197 shares in the last quarter. Finally, Soros Fund Management LLC acquired a new position in shares of Sportradar Group during the 2nd quarter worth approximately $28,563,000.

Sportradar Group Company Profile

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.