Sportradar Group (NASDAQ:SRAD) Coverage Initiated by Analysts at Wolfe Research

Investment analysts at Wolfe Research began coverage on shares of Sportradar Group (NASDAQ:SRAD) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Wolfe Research’s price target points to a potential upside of 78.72% from the company’s current price.

A number of other brokerages have also issued reports on SRAD. Guggenheim dropped their target price on shares of Sportradar Group from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. JPMorgan Chase & Co. cut their price objective on shares of Sportradar Group from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Freedom Capital raised Sportradar Group to a “strong-buy” rating in a research report on Monday, July 20th. Citizens Jmp cut their price target on Sportradar Group from $24.00 to $20.00 and set a “market outperform” rating for the company in a report on Tuesday, August 4th. Finally, Zacks Research cut Sportradar Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.41.

Sportradar Group Price Performance

NASDAQ SRAD opened at $12.31 on Wednesday. Sportradar Group has a twelve month low of $11.55 and a twelve month high of $31.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $3.69 billion, a PE ratio of 205.20 and a beta of 1.59. The stock has a 50-day simple moving average of $14.08 and a 200 day simple moving average of $15.25.

Sportradar Group (NASDAQ:SRAD) last released its earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share (EPS) for the quarter. Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. The business had revenue of $431.19 million during the quarter. Research analysts anticipate that Sportradar Group will post 0.25 EPS for the current year.

Institutional Trading of Sportradar Group

Several institutional investors have recently made changes to their positions in the business. UBS Group AG increased its stake in Sportradar Group by 107.1% in the fourth quarter. UBS Group AG now owns 2,394,126 shares of the company’s stock valued at $56,908,000 after acquiring an additional 1,238,054 shares during the period. Stephens Investment Management Group LLC bought a new position in Sportradar Group during the fourth quarter worth about $52,643,000. Spruce House Investment Management LLC acquired a new stake in Sportradar Group during the first quarter valued at approximately $46,035,000. Ashford Capital Management Inc. grew its stake in shares of Sportradar Group by 35.7% in the 1st quarter. Ashford Capital Management Inc. now owns 719,570 shares of the company’s stock valued at $12,046,000 after purchasing an additional 189,290 shares during the period. Finally, BW Gestao de Investimentos Ltda. raised its holdings in shares of Sportradar Group by 133.8% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 233,843 shares of the company’s stock worth $5,558,000 after buying an additional 133,841 shares in the last quarter.

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.