Sportradar Group (NASDAQ:SRAD) Hits New 1-Year High – Here’s Why

Sportradar Group AG (NASDAQ:SRAD) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.55 and last traded at $17.47, with a volume of 271925 shares changing hands. The stock had previously closed at $17.22.

Analyst Upgrades and Downgrades

SRAD has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Sportradar Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $12.00 to $15.00 in a research report on Monday, October 21st. JMP Securities raised shares of Sportradar Group from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a research report on Wednesday, September 4th. Morgan Stanley upped their price objective on shares of Sportradar Group from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Sportradar Group in a research report on Thursday, November 7th. Finally, Benchmark upped their target price on shares of Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sportradar Group has an average rating of “Moderate Buy” and an average target price of $15.63.

Sportradar Group Price Performance

The company has a market cap of $19.32 billion, a P/E ratio of 86.10, a P/E/G ratio of 2.62 and a beta of 2.05. The company’s 50-day moving average price is $12.82 and its 200-day moving average price is $11.55. 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

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP grew its position in shares of Sportradar Group by 187.4% in the 2nd quarter. Quarry LP now owns 2,690 shares of the company’s stock valued at $30,000 after acquiring an additional 1,754 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Sportradar Group in the 3rd quarter valued at about $41,000. nVerses Capital LLC grew its position in shares of Sportradar Group by 120.0% in 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 during the period. Lazard Asset Management LLC bought a new position in shares of Sportradar Group in the 1st quarter valued at about $60,000. Finally, Barclays PLC grew its position in shares of 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 acquiring an additional 5,733 shares during the period.

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.