Stifel Nicolaus Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $20.00

Sportradar Group (NASDAQ:SRAD) had its target price cut by Stifel Nicolaus from $21.00 to $20.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the company. Wells Fargo & Company reduced their price objective on Sportradar Group from $24.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Zacks Research cut shares of Sportradar Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Guggenheim decreased their target price on shares of Sportradar Group from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Sportradar Group in a research note on Friday, March 27th. Finally, Benchmark restated a “buy” rating on shares of Sportradar Group in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sportradar Group presently has a consensus rating of “Moderate Buy” and an average target price of $22.47.

Sportradar Group Stock Up 0.1%

SRAD stock opened at $14.29 on Wednesday. Sportradar Group has a 12-month low of $11.66 and a 12-month high of $32.22. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 59.54 and a beta of 1.60. The company has a 50 day moving average of $14.67 and a two-hundred day moving average of $16.35.

Sportradar Group (NASDAQ:SRAD) last issued its earnings results on Wednesday, April 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.08). Sportradar Group had a net margin of 5.20% and a return on equity of 7.28%. The company had revenue of $401.11 million for the quarter, compared to analyst estimates of $417.86 million. During the same period last year, the business earned $0.07 EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Sportradar Group will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Sportradar Group

In other news, Director George Fleet purchased 7,850 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were bought at an average price of $12.73 per share, with a total value of $99,930.50. Following the completion of the transaction, the director directly owned 160,873 shares in the company, valued at $2,047,913.29. This trade represents a 5.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carsten Koerl acquired 143,000 shares of Sportradar Group stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $13.23 per share, with a total value of $1,891,890.00. Following the completion of the purchase, the chief executive officer directly owned 2,278,272 shares of the company’s stock, valued at $30,141,538.56. The trade was a 6.70% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 357,893 shares of company stock valued at $4,668,220. 85.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sportradar Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jericho Capital Asset Management L.P. bought a new position in shares of Sportradar Group in the fourth quarter worth about $75,117,000. Spruce House Investment Management LLC acquired a new stake in Sportradar Group in the 1st quarter valued at approximately $46,035,000. The Manufacturers Life Insurance Company grew its holdings in Sportradar Group by 963.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock valued at $41,238,000 after buying an additional 2,231,810 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in Sportradar Group in the 4th quarter worth approximately $52,643,000. Finally, Assenagon Asset Management S.A. bought a new position in Sportradar Group in the 2nd quarter worth approximately $32,811,000.

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.