Sportradar Group (NASDAQ:SRAD) Price Target Lowered to $24.00 at Morgan Stanley

Sportradar Group (NASDAQ:SRAD) had its price objective trimmed by Morgan Stanley from $26.00 to $24.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms also recently issued reports on SRAD. Needham & Company LLC dropped their price target on Sportradar Group from $34.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Wells Fargo & Company reduced their price objective on Sportradar Group from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. UBS Group lowered their target price on Sportradar Group from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sportradar Group in a research report on Monday, December 29th. Finally, Citizens Jmp cut their price target on Sportradar Group from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.22.

Sportradar Group Stock Performance

Shares of SRAD stock opened at $18.51 on Wednesday. The company has a 50 day moving average price of $18.19 and a 200-day moving average price of $22.48. Sportradar Group has a 52 week low of $15.73 and a 52 week high of $32.22. The firm has a market capitalization of $5.54 billion, a PE ratio of 56.09 and a beta of 2.00. The company has a quick ratio of 1.36, a current ratio of 1.17 and a debt-to-equity ratio of 0.05.

Sportradar Group (NASDAQ:SRAD) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). Sportradar Group had a net margin of 7.73% and a return on equity of 10.32%. The company had revenue of $432.81 million for the quarter, compared to the consensus estimate of $369.59 million. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts expect that Sportradar Group will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Sportradar Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in Sportradar Group by 93.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company’s stock valued at $31,000 after purchasing an additional 620 shares in the last quarter. Empowered Funds LLC purchased a new stake in Sportradar Group in the fourth quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Sportradar Group in the fourth quarter worth about $45,000. Tower Research Capital LLC TRC raised its stake in shares of Sportradar Group by 10,125.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company’s stock worth $46,000 after buying an additional 1,620 shares during the period. Finally, CWM LLC lifted its position in shares of Sportradar Group by 316.0% during the 4th quarter. CWM LLC now owns 2,475 shares of the company’s stock valued at $59,000 after buying an additional 1,880 shares in the last quarter.

About Sportradar Group

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.