Sportradar Group (NASDAQ:SRAD) Sees Large Volume Increase – What’s Next?

Sportradar Group AG (NASDAQ:SRAD) saw strong trading volume on Tuesday . 323,986 shares were traded during mid-day trading, a decline of 27% from the previous session’s volume of 443,859 shares.The stock last traded at $16.91 and had previously closed at $17.65.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JMP Securities upgraded Sportradar Group from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised Sportradar Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $12.00 to $15.00 in a research report on Monday, October 21st. Jefferies Financial Group upgraded Sportradar Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $12.00 to $16.00 in a research note on Wednesday, August 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 target price on shares of Sportradar Group in a research note on Wednesday, August 14th. Finally, Benchmark lifted their price target on Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Sportradar Group Stock Performance

The stock has a 50-day simple moving average of $13.51 and a 200 day simple moving average of $11.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.53. The company has a market capitalization of $18.88 billion, a PE ratio of 84.50, a P/E/G ratio of 2.37 and a beta of 2.05.

Hedge Funds Weigh In On Sportradar Group

Institutional investors have recently made changes to their positions in the stock. Quarry LP raised its holdings in shares of Sportradar Group by 187.4% in the second quarter. Quarry LP now owns 2,690 shares of the company’s stock worth $30,000 after acquiring an additional 1,754 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Sportradar Group in the third quarter worth $41,000. nVerses Capital LLC raised its holdings in shares of Sportradar Group by 120.0% in the second quarter. nVerses Capital LLC now owns 4,400 shares of the company’s stock worth $49,000 after acquiring an additional 2,400 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Sportradar Group in the first quarter worth $60,000. Finally, Barclays PLC increased its stake in Sportradar Group by 3,098.9% in the third quarter. Barclays PLC now owns 5,918 shares of the company’s stock valued at $72,000 after purchasing an additional 5,733 shares during the last quarter.

Sportradar Group Company Profile

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.