Sportradar Group (NASDAQ:SRAD) Hits New 12-Month High – Here’s Why

Shares of Sportradar Group AG (NASDAQ:SRAD) hit a new 52-week high on Monday . The company traded as high as $17.95 and last traded at $17.95, with a volume of 154205 shares changing hands. The stock had previously closed at $17.73.

Analyst Ratings Changes

A number of research firms have weighed in on SRAD. JPMorgan Chase & Co. raised shares of Sportradar Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $12.00 to $15.00 in a research report on Monday, October 21st. Morgan Stanley upped their target price on Sportradar Group from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price objective on shares of Sportradar Group in a report on Wednesday, August 14th. Citigroup boosted their price target on shares of Sportradar Group from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Sportradar Group in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Sportradar Group presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Sportradar Group Price Performance

The stock’s 50 day simple moving average is $13.40 and its 200-day simple moving average is $11.83. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 88.25, a PEG ratio of 2.37 and a beta of 2.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.53.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP raised its position in shares of Sportradar Group by 187.4% during the second quarter. Quarry LP now owns 2,690 shares of the company’s stock valued at $30,000 after buying an additional 1,754 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Sportradar Group in the 3rd quarter valued at $41,000. nVerses Capital LLC boosted its position in shares of Sportradar Group by 120.0% during the 2nd quarter. nVerses Capital LLC now owns 4,400 shares of the company’s stock valued at $49,000 after acquiring an additional 2,400 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Sportradar Group during the first quarter valued at approximately $60,000. Finally, Barclays PLC boosted its stake in Sportradar Group by 3,098.9% in the 3rd quarter. Barclays PLC now owns 5,918 shares of the company’s stock valued at $72,000 after buying an additional 5,733 shares in the last quarter.

Sportradar Group Company Profile

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.