Sportradar Group (NASDAQ:SRAD) Raised to “Strong-Buy” at Freedom Capital

Sportradar Group (NASDAQ:SRAD) was upgraded by equities researchers at Freedom Capital to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on SRAD. BTIG Research lowered their target price on shares of Sportradar Group from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Stifel Nicolaus cut their price target on Sportradar Group from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Citigroup reduced their price target on Sportradar Group from $28.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Sportradar Group from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Needham & Company LLC raised their price objective on Sportradar Group from $19.00 to $23.00 and gave the company a “buy” rating in a report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Sportradar Group has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Sportradar Group Price Performance

NASDAQ:SRAD opened at $14.69 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.06 and a quick ratio of 1.06. The company has a 50 day moving average price of $14.56 and a 200-day moving average price of $16.50. Sportradar Group has a 1-year low of $11.66 and a 1-year high of $32.22. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 61.21 and a beta of 1.60.

Sportradar Group (NASDAQ:SRAD) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.08). The firm had revenue of $401.11 million for the quarter, compared to analysts’ expectations of $417.86 million. Sportradar Group had a return on equity of 7.28% and a net margin of 5.20%.The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share. Equities research analysts forecast that Sportradar Group will post 0.4 EPS for the current year.

Insiders Place Their Bets

In related news, Director William Kurtz purchased 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average cost of $12.97 per share, with a total value of $103,760.00. Following the purchase, the director owned 30,179 shares of the company’s stock, valued at $391,421.63. This represents a 36.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Fleet acquired 7,850 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $12.73 per share, for a total transaction of $99,930.50. Following the completion of the acquisition, the director owned 160,873 shares in the company, valued at $2,047,913.29. The trade was a 5.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 357,893 shares of company stock valued at $4,668,220.

Hedge Funds Weigh In On Sportradar Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cresset Asset Management LLC increased its position in shares of Sportradar Group by 2.1% during the second quarter. Cresset Asset Management LLC now owns 18,746 shares of the company’s stock valued at $526,000 after acquiring an additional 394 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Sportradar Group by 93.1% in 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 during the last quarter. Parallel Advisors LLC boosted its position in shares of Sportradar Group by 6.1% during the 1st quarter. Parallel Advisors LLC now owns 16,388 shares of the company’s stock worth $274,000 after purchasing an additional 937 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Sportradar Group by 3.8% during the 1st quarter. Glenmede Trust Co. NA now owns 26,470 shares of the company’s stock worth $443,000 after purchasing an additional 970 shares during the period. Finally, Northwest & Ethical Investments L.P. increased its holdings in Sportradar Group by 7.7% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 14,745 shares of the company’s stock valued at $356,000 after purchasing an additional 1,055 shares during the last quarter.

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.