Sportradar Group (NASDAQ:SRAD) Releases Earnings Results, Misses Estimates By $0.08 EPS

Sportradar Group (NASDAQ:SRAD) issued its quarterly earnings data on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08), FiscalAI reports. The company had revenue of $431.19 million for the quarter, compared to analyst estimates of $435.95 million. Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.

Sportradar Group Stock Performance

Shares of Sportradar Group stock opened at $14.54 on Monday. Sportradar Group has a fifty-two week low of $11.66 and a fifty-two week high of $32.22. The business’s fifty day moving average is $14.82 and its two-hundred day moving average is $16.08. 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 firm has a market cap of $4.35 billion, a PE ratio of 60.58 and a beta of 1.61.

Hedge Funds Weigh In On Sportradar Group

Several institutional investors have recently added to or reduced their stakes in SRAD. T. Rowe Price Investment Management Inc. increased its holdings in shares of Sportradar Group by 19.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock worth $287,158,000 after buying an additional 1,929,037 shares during the last quarter. Bank of America Corp DE boosted its holdings in Sportradar Group by 491.6% in the third quarter. Bank of America Corp DE now owns 1,728,426 shares of the company’s stock valued at $46,495,000 after acquiring an additional 1,436,263 shares during the last quarter. UBS Group AG grew its position in Sportradar Group by 346.8% during the third quarter. UBS Group AG now owns 1,156,072 shares of the company’s stock valued at $31,098,000 after acquiring an additional 897,312 shares during the period. Qube Research & Technologies Ltd grew its position in Sportradar Group by 200.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,049,914 shares of the company’s stock valued at $28,243,000 after acquiring an additional 700,388 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Sportradar Group by 49.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,759,326 shares of the company’s stock worth $41,819,000 after acquiring an additional 584,516 shares during the last quarter.

Wall Street Analysts Forecast Growth

SRAD has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on Sportradar Group from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Zacks Research cut Sportradar Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Guggenheim cut their target price on shares of Sportradar Group from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Sportradar Group from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Citizens Jmp decreased their price target on shares of Sportradar Group from $26.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.47.

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.