Sportradar Group (NASDAQ:SRAD) Shares Down 7.2% on Analyst Downgrade

Sportradar Group AG (NASDAQ:SRAD)’s share price traded down 7.2% during trading on Wednesday after Truist Financial lowered their price target on the stock from $32.00 to $26.00. Truist Financial currently has a buy rating on the stock. Sportradar Group traded as low as $15.81 and last traded at $15.6310. 666,550 shares traded hands during trading, a decline of 75% from the average session volume of 2,614,118 shares. The stock had previously closed at $16.84.

A number of other equities analysts have also recently commented on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Sportradar Group in a report on Friday, March 27th. The Goldman Sachs Group decreased their price objective on Sportradar Group from $35.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. BTIG Research decreased their price objective on Sportradar Group from $32.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Citizens Jmp decreased their price objective 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. Finally, Needham & Company LLC decreased their price objective on Sportradar Group from $34.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.73.

Institutional Investors Weigh In On Sportradar Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cresset Asset Management LLC raised its position in shares of Sportradar Group by 2.1% during the 2nd quarter. Cresset Asset Management LLC now owns 18,746 shares of the company’s stock worth $526,000 after acquiring an additional 394 shares in the last quarter. Mindset Wealth Management LLC raised its position in shares of Sportradar Group by 5.5% during the 3rd quarter. Mindset Wealth Management LLC now owns 8,992 shares of the company’s stock worth $242,000 after acquiring an additional 466 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Sportradar Group by 5.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 9,658 shares of the company’s stock worth $260,000 after acquiring an additional 489 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Sportradar Group by 93.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company’s stock worth $31,000 after acquiring an additional 620 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. raised its position in shares of Sportradar Group by 7.7% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 14,745 shares of the company’s stock worth $356,000 after acquiring an additional 1,055 shares in the last quarter.

Sportradar Group Stock Down 22.6%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 39.52 and a beta of 1.98. The firm has a 50-day moving average price of $17.58 and a two-hundred day moving average price of $20.72.

Sportradar Group (NASDAQ:SRAD) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.09). The firm had revenue of $432.81 million for the quarter, compared to analyst estimates of $369.59 million. Sportradar Group had a return on equity of 10.32% and a net margin of 7.73%.The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, sell-side analysts forecast that Sportradar Group AG will post 0.52 earnings per share for the current year.

Sportradar Group Company Profile

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.