Sportradar Group (NASDAQ:SRAD) Sets New 1-Year High – Here’s What Happened

Shares of Sportradar Group AG (NASDAQ:SRAD) hit a new 52-week high during trading on Wednesday . The stock traded as high as $18.75 and last traded at $18.15, with a volume of 1252046 shares traded. The stock had previously closed at $18.11.

Analyst Ratings Changes

Several analysts have issued reports on SRAD shares. Morgan Stanley upped their price objective on Sportradar Group from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Sportradar Group in a research note on Thursday, November 7th. Citigroup boosted their target price on shares of Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. upgraded shares of Sportradar Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $12.00 to $15.00 in a research report on Monday, October 21st. Finally, Benchmark increased their price objective on shares of Sportradar Group from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Sportradar Group Stock Performance

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’s 50-day moving average is $16.74 and its two-hundred day moving average is $13.42. The stock has a market capitalization of $20.63 billion, a P/E ratio of 92.80, a P/E/G ratio of 2.12 and a beta of 2.18.

Institutional Trading of Sportradar Group

Several hedge funds have recently added to or reduced their stakes in SRAD. Quarry LP lifted its stake in shares of Sportradar Group by 187.4% in the 2nd quarter. Quarry LP now owns 2,690 shares of the company’s stock worth $30,000 after acquiring an additional 1,754 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Sportradar Group during the third quarter valued at approximately $41,000. Barclays PLC raised its holdings in Sportradar Group by 3,098.9% during the third quarter. Barclays PLC now owns 5,918 shares of the company’s stock worth $72,000 after purchasing an additional 5,733 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Sportradar Group in the second quarter worth approximately $75,000. Finally, nVerses Capital LLC boosted its stake in Sportradar Group by 45.5% during the 3rd quarter. nVerses Capital LLC now owns 6,400 shares of the company’s stock valued at $78,000 after purchasing an additional 2,000 shares in the last quarter.

About Sportradar Group

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.