Sportradar Group (NASDAQ:SRAD) Stock Price Down 7.2% on Analyst Downgrade

Shares of Sportradar Group AG (NASDAQ:SRAD) were down 7.2% during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $32.00 to $26.00. Truist Financial currently has a buy rating on the stock. Sportradar Group traded as low as $15.81 and last traded at $15.6310. Approximately 666,550 shares changed hands during trading, a decline of 75% from the average daily volume of 2,614,118 shares. The stock had previously closed at $16.84.

Other research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sportradar Group in a research report on Friday, March 27th. Benchmark restated a “buy” rating on shares of Sportradar Group in a report on Wednesday, January 21st. Citizens Jmp lowered their price target on Sportradar Group from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 4th. Wells Fargo & Company dropped their price target on shares of Sportradar Group from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Finally, Guggenheim reiterated a “buy” rating on shares of Sportradar Group in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.73.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Sportradar Group by 93.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company’s stock worth $31,000 after purchasing an additional 620 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Sportradar Group during the 4th quarter valued at $31,000. Tower Research Capital LLC TRC lifted its holdings in shares of Sportradar Group by 10,125.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company’s stock valued at $46,000 after buying an additional 1,620 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Sportradar Group in the 4th quarter worth $45,000. Finally, CWM LLC grew its holdings in shares of Sportradar Group by 316.0% in the fourth quarter. CWM LLC now owns 2,475 shares of the company’s stock worth $59,000 after acquiring an additional 1,880 shares during the period.

Sportradar Group Stock Down 7.2%

The company has a market cap of $4.68 billion, a P/E ratio of 47.34 and a beta of 1.98. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $17.66 and a 200 day moving average of $20.77.

Sportradar Group (NASDAQ:SRAD) last announced its earnings results on Wednesday, March 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). The firm had revenue of $432.81 million during the quarter, compared to analysts’ expectations of $369.59 million. Sportradar Group had a return on equity of 10.32% and a net margin of 7.73%.Sportradar Group’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, research analysts anticipate that Sportradar Group AG will post 0.52 earnings per share for the current fiscal year.

About Sportradar Group

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.