JPMorgan Chase & Co. Boosts Sportradar Group (NASDAQ:SRAD) Price Target to $17.00

Sportradar Group (NASDAQ:SRAD) had its price target boosted by analysts at JPMorgan Chase & Co. from $16.00 to $17.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 14.56% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Guggenheim decreased their price objective on shares of Sportradar Group from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Benchmark reiterated a “buy” rating on shares of Sportradar Group in a research note on Thursday, July 9th. Wells Fargo & Company reduced their target price on Sportradar Group from $24.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. UBS Group restated a “buy” rating on shares of Sportradar Group in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group cut Sportradar Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $30.00 to $14.00 in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Sportradar Group Stock Down 1.7%

Shares of NASDAQ SRAD opened at $14.84 on Wednesday. The stock has a market cap of $4.44 billion, a PE ratio of 61.83 and a beta of 1.60. The business has a fifty day moving average of $14.45 and a two-hundred day moving average of $16.69. Sportradar Group has a 52-week low of $11.66 and a 52-week high of $32.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.06.

Sportradar Group (NASDAQ:SRAD) last posted its earnings results on Wednesday, April 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.08). The firm had revenue of $401.11 million during the quarter, compared to the consensus estimate of $417.86 million. Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. As a group, equities research analysts expect that Sportradar Group will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rajani Ramanathan acquired 8,003 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $12.49 per share, for a total transaction of $99,957.47. Following the completion of the transaction, the director directly owned 38,947 shares in the company, valued at $486,448.03. This trade represents a 25.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George Fleet acquired 7,850 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were purchased at an average cost of $12.73 per share, with a total value of $99,930.50. Following the completion of the acquisition, the director directly owned 160,873 shares in the company, valued at approximately $2,047,913.29. The trade was a 5.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 357,893 shares of company stock valued at $4,668,220 over the last 90 days. Corporate insiders own 85.02% of the company’s stock.

Institutional Investors Weigh In On Sportradar Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jericho Capital Asset Management L.P. bought a new position in Sportradar Group in the fourth quarter valued at approximately $75,117,000. Spruce House Investment Management LLC bought a new stake in shares of Sportradar Group during the 1st quarter valued at $46,035,000. The Manufacturers Life Insurance Company raised its position in shares of Sportradar Group by 963.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock valued at $41,238,000 after acquiring an additional 2,231,810 shares during the last quarter. Stephens Investment Management Group LLC bought a new stake in shares of Sportradar Group during the 4th quarter valued at $52,643,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Sportradar Group in the 2nd quarter valued at $32,811,000.

Key Headlines Impacting Sportradar Group

Here are the key news stories impacting Sportradar Group this week:

• Positive Sentiment: JPMorgan Chase & Co. raised its price target on Sportradar Group AG to $17 from $16, signaling some analyst confidence despite keeping a neutral rating. JPMorgan Chase & Co. Issues Positive Forecast for Sportradar Group (NASDAQ:SRAD) Stock Price
• Neutral Sentiment: Multiple law firms, including Rosen, Pomerantz, Faruqi & Faruqi, Glancy Prongay, Bronstein Gewirtz & Grossman, Robbins Geller, and Hagens Berman, issued reminders about the July 17 lead-plaintiff deadline in the ongoing securities class action against Sportradar. Pomerantz Investor Alert
• Neutral Sentiment: HBSS said it is investigating claims tied to short-seller allegations of illegal gambling ties, adding another legal overhang for the stock. HBSS Investigates Sportradar Group AG Securities Class Action Claims

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.