Sportradar Group (NASDAQ:SRAD) Sees Large Volume Increase – Still a Buy?

Sportradar Group AG (NASDAQ:SRAD) shares saw unusually-high trading volume on Tuesday . Approximately 323,986 shares traded hands 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.

Analysts Set New Price Targets

SRAD has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Sportradar Group from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Citigroup increased their price target on Sportradar Group from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Sportradar Group in a report on Thursday, November 7th. Benchmark increased their price target on Sportradar Group from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price target on shares of Sportradar Group in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Sportradar Group currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Sportradar Group Stock Down 3.7 %

The business has a fifty day moving average of $13.51 and a 200 day moving average of $11.89. The company has a market capitalization of $18.88 billion, a PE ratio of 84.50, a PEG ratio of 2.37 and a beta of 2.05. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Sportradar Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SRAD. Janus Henderson Group PLC boosted its stake in shares of Sportradar Group by 14.9% in the 3rd quarter. Janus Henderson Group PLC now owns 3,582,528 shares of the company’s stock valued at $43,384,000 after buying an additional 463,441 shares during the period. Millennium Management LLC boosted its stake in shares of Sportradar Group by 133.7% in the 2nd quarter. Millennium Management LLC now owns 1,636,129 shares of the company’s stock valued at $18,292,000 after buying an additional 935,909 shares during the period. Portolan Capital Management LLC purchased a new position in shares of Sportradar Group in the 3rd quarter valued at about $12,061,000. Divisadero Street Capital Management LP purchased a new position in shares of Sportradar Group in the 2nd quarter valued at about $8,392,000. Finally, AM Investment Strategies LLC boosted its stake in shares of Sportradar Group by 31.1% in the 2nd quarter. AM Investment Strategies LLC now owns 465,540 shares of the company’s stock valued at $5,205,000 after buying an additional 110,520 shares during the period.

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.