Sportradar Group (NASDAQ:SRAD) Shares Down 4.8% – Here’s Why

Sportradar Group AG (NASDAQ:SRAD)’s stock price fell 4.8% during mid-day trading on Tuesday. The company traded as low as $11.87 and last traded at $11.8750. Approximately 682,260 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 2,904,115 shares. The stock had previously closed at $12.48.

Analysts Set New Price Targets

Several brokerages have weighed in on SRAD. Wolfe Research assumed coverage on Sportradar Group in a report on Wednesday, September 2nd. They set an “outperform” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on Sportradar Group from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Guggenheim lowered their price objective on Sportradar Group from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Needham & Company LLC cut their target price on shares of Sportradar Group from $23.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus decreased their price target on shares of Sportradar Group from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.19.

Sportradar Group Price Performance

The company has a market capitalization of $3.52 billion, a PE ratio of 196.45 and a beta of 1.58. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $13.23 and a 200-day simple moving average of $14.59.

Sportradar Group (NASDAQ:SRAD) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.01) 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. Equities analysts anticipate that Sportradar Group AG will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Sportradar Group

Several hedge funds have recently added to or reduced their stakes in SRAD. Integrated Wealth Concepts LLC acquired a new position in shares of Sportradar Group in the 2nd quarter valued at $560,000. Squarepoint Ops LLC raised its stake in Sportradar Group by 3.2% during the 2nd quarter. Squarepoint Ops LLC now owns 30,518 shares of the company’s stock worth $457,000 after acquiring an additional 958 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Sportradar Group during the 2nd quarter worth $1,704,000. Allied Private Wealth LLC purchased a new stake in Sportradar Group in the second quarter valued at $61,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Sportradar Group in the second quarter valued at $32,811,000.

About Sportradar Group

Sportradar Group AG is a global sports technology company that provides data, content and technology solutions to sports organizations, media companies, betting operators and other customers. Its services are designed to support sports coverage, audience engagement, digital platforms and sports betting operations.

The company collects, processes and distributes sports data, including live scores, statistics and related information. Its product offerings also include betting technology and odds solutions, audiovisual sports content, marketing and fan-engagement tools, and services focused on sports integrity and the detection of suspicious activity.

Sportradar serves customers across multiple regions, including Europe, North America and other international markets, covering a broad range of sports.