JPMorgan Chase & Co. Lowers Sportradar Group (NASDAQ:SRAD) Price Target to $12.00

Sportradar Group (NASDAQ:SRAD) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $14.00 to $12.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 24.10% from the stock’s current price.

SRAD has been the subject of a number of other reports. Morgan Stanley lowered their price objective on Sportradar Group from $12.50 to $11.50 and set an “equal weight” rating for the company in a research note on Friday, October 13th. Needham & Company LLC raised their price target on Sportradar Group from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Sportradar Group from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Benchmark reaffirmed a “buy” rating and issued a $14.00 target price on shares of Sportradar Group in a report on Thursday, August 31st. Finally, JMP Securities started coverage on Sportradar Group in a report on Thursday, September 7th. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Sportradar Group Stock Performance

Shares of SRAD opened at $9.67 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of -138.12 and a beta of 2.01. Sportradar Group has a 52-week low of $8.08 and a 52-week high of $15.56. The business’s 50 day moving average is $9.95 and its two-hundred day moving average is $11.79.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp purchased a new position in shares of Sportradar Group in the 3rd quarter worth approximately $198,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Sportradar Group by 4,538.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,002 shares of the company’s stock valued at $160,000 after purchasing an additional 15,657 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Sportradar Group by 123.0% in the third quarter. Exchange Traded Concepts LLC now owns 404,290 shares of the company’s stock valued at $4,047,000 after purchasing an additional 222,989 shares during the last quarter. Renaissance Capital LLC lifted its stake in Sportradar Group by 30.7% in the third quarter. Renaissance Capital LLC now owns 34,424 shares of the company’s stock valued at $345,000 after purchasing an additional 8,087 shares during the last quarter. Finally, Wolverine Trading LLC lifted its stake in Sportradar Group by 41.2% in the second quarter. Wolverine Trading LLC now owns 58,767 shares of the company’s stock valued at $749,000 after purchasing an additional 17,155 shares during the last quarter. 14.93% of the stock is owned by institutional investors.

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.