Sportradar Group (NASDAQ:SRAD) Price Target Cut to $14.00 by Analysts at Deutsche Bank Aktiengesellschaft

Sportradar Group (NASDAQ:SRADGet Rating) had its target price reduced by Deutsche Bank Aktiengesellschaft from $16.00 to $14.00 in a research note issued to investors on Wednesday morning, The Fly reports.

Several other research analysts also recently commented on the company. Needham & Company LLC lifted their target price on Sportradar Group from $15.00 to $17.00 and gave the stock a buy rating in a report on Thursday, August 18th. Morgan Stanley started coverage on Sportradar Group in a research report on Monday. They issued an equal weight rating and a $12.00 price objective for the company. Canaccord Genuity Group lifted their price objective on Sportradar Group from $18.00 to $20.00 and gave the stock a buy rating in a research report on Thursday, August 18th. Finally, Bank of America lowered Sportradar Group from a neutral rating to an underperform rating and lowered their price objective for the stock from $14.00 to $8.00 in a research report on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $16.82.

Sportradar Group Price Performance

Shares of SRAD opened at $11.03 on Wednesday. Sportradar Group has a 12 month low of $7.10 and a 12 month high of $19.48. The stock’s 50-day moving average price is $9.41 and its two-hundred day moving average price is $9.60. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.29.

Institutional Trading of Sportradar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spruce House Investment Management LLC increased its position in Sportradar Group by 40.0% in the 2nd quarter. Spruce House Investment Management LLC now owns 3,500,000 shares of the company’s stock valued at $27,650,000 after buying an additional 1,000,000 shares in the last quarter. Durable Capital Partners LP increased its position in Sportradar Group by 46.0% in the 1st quarter. Durable Capital Partners LP now owns 3,303,309 shares of the company’s stock valued at $54,967,000 after buying an additional 1,040,085 shares in the last quarter. Federated Hermes Inc. increased its holdings in Sportradar Group by 42.5% during the 1st quarter. Federated Hermes Inc. now owns 2,785,700 shares of the company’s stock worth $46,354,000 after purchasing an additional 830,887 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Sportradar Group during the 1st quarter worth approximately $32,918,000. Finally, Exchange Traded Concepts LLC increased its holdings in Sportradar Group by 27.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 460,275 shares of the company’s stock worth $4,050,000 after purchasing an additional 98,532 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

About Sportradar Group

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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.

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Analyst Recommendations for Sportradar Group (NASDAQ:SRAD)

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