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

Sportradar Group AG (NASDAQ:SRAD)’s stock price reached a new 52-week high 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.

Wall Street Analyst Weigh In

Several analysts have weighed in on SRAD shares. Citigroup raised their price target on Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group raised Sportradar Group from a “hold” rating to a “buy” rating and raised their price target for the company from $12.00 to $16.00 in a report on Wednesday, August 14th. Morgan Stanley raised their price target on Sportradar Group from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Benchmark raised their price target on Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised Sportradar Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $12.00 to $15.00 in a report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Sportradar Group Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market capitalization of $19.44 billion, a P/E ratio of 87.50, a price-to-earnings-growth ratio of 2.68 and a beta of 2.05. The firm has a 50-day moving average price of $13.16 and a 200 day moving average price of $11.70.

Hedge Funds Weigh In On Sportradar Group

Several institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its position in Sportradar Group by 14.9% during the 3rd quarter. Janus Henderson Group PLC now owns 3,582,528 shares of the company’s stock worth $43,384,000 after acquiring an additional 463,441 shares during the last quarter. Millennium Management LLC grew its position in Sportradar Group by 133.7% during the 2nd quarter. Millennium Management LLC now owns 1,636,129 shares of the company’s stock worth $18,292,000 after acquiring an additional 935,909 shares during the last quarter. Portolan Capital Management LLC bought a new position in Sportradar Group during the 3rd quarter worth approximately $12,061,000. Divisadero Street Capital Management LP bought a new position in Sportradar Group during the 2nd quarter worth approximately $8,392,000. Finally, AM Investment Strategies LLC grew its position in Sportradar Group by 31.1% during the 2nd quarter. AM Investment Strategies LLC now owns 465,540 shares of the company’s stock worth $5,205,000 after acquiring an additional 110,520 shares during 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.