Sportradar Group (NASDAQ:SRAD) Reaches New 52-Week High – Here’s What Happened

Sportradar Group AG (NASDAQ:SRAD)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $19.75 and last traded at $19.66, with a volume of 166069 shares. The stock had previously closed at $18.71.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SRAD shares. Benchmark boosted their price target on shares of Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Sportradar Group in a report on Thursday, November 7th. JPMorgan Chase & Co. upgraded Sportradar Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $12.00 to $15.00 in a report on Monday, October 21st. JMP Securities upped their price objective on Sportradar Group from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price objective on Sportradar Group from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Sportradar Group Stock Up 4.3 %

The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $21.70 billion, a price-to-earnings ratio of 97.60, a price-to-earnings-growth ratio of 2.12 and a beta of 2.18. The company has a 50-day moving average of $17.13 and a 200-day moving average of $13.60.

Institutional Trading of Sportradar Group

A number of institutional investors have recently bought and sold shares of SRAD. Janus Henderson Group PLC raised its holdings in shares of Sportradar Group by 14.9% in the third quarter. Janus Henderson Group PLC now owns 3,582,528 shares of the company’s stock worth $43,384,000 after buying an additional 463,441 shares during the last quarter. Millennium Management LLC increased its position in shares of Sportradar Group by 133.7% in the 2nd quarter. Millennium Management LLC now owns 1,636,129 shares of the company’s stock valued at $18,292,000 after acquiring an additional 935,909 shares during the period. Portolan Capital Management LLC acquired a new stake in Sportradar Group during the 3rd quarter worth about $12,061,000. Divisadero Street Capital Management LP purchased a new stake in Sportradar Group during the 2nd quarter valued at about $8,392,000. Finally, Marshall Wace LLP raised its stake in shares of Sportradar Group by 152.8% in the second quarter. Marshall Wace LLP now owns 391,806 shares of the company’s stock worth $4,380,000 after purchasing an additional 236,831 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.