Sportradar Group (NASDAQ:SRAD) Upgraded to Overweight by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Sportradar Group (NASDAQ:SRAD) from a neutral rating to an overweight rating in a report published on Monday, Marketbeat Ratings reports. The firm currently has $15.00 price target on the stock, up from their prior price target of $12.00.

Several other research firms have also commented on SRAD. Benchmark raised their price objective on shares of Sportradar Group from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JMP Securities raised Sportradar Group from a “market perform” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research report on Wednesday, September 4th. Morgan Stanley lifted their target price on Sportradar Group from $11.50 to $12.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Jefferies Financial Group upgraded Sportradar Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $12.00 to $16.00 in a report on Wednesday, August 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Sportradar Group in a research note on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Sportradar Group Price Performance

SRAD opened at $12.76 on Monday. The stock’s 50-day moving average price is $11.89 and its 200 day moving average price is $11.05. Sportradar Group has a 12-month low of $8.08 and a 12-month high of $13.20. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 141.74, a PEG ratio of 15.60 and a beta of 2.06. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.05.

Institutional Trading of Sportradar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRAD. Millennium Management LLC grew 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 purchasing an additional 935,909 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Sportradar Group during the second quarter worth $8,392,000. Marshall Wace LLP grew its position in Sportradar Group by 152.8% in the 2nd quarter. Marshall Wace LLP now owns 391,806 shares of the company’s stock valued at $4,380,000 after buying an additional 236,831 shares during the last quarter. Renaissance Technologies LLC increased its stake in Sportradar Group by 65.3% in the 2nd quarter. Renaissance Technologies LLC now owns 343,700 shares of the company’s stock valued at $3,843,000 after buying an additional 135,800 shares during the period. Finally, AM Investment Strategies LLC raised its position in Sportradar Group by 31.1% during the 2nd quarter. AM Investment Strategies LLC now owns 465,540 shares of the company’s stock worth $5,205,000 after buying an additional 110,520 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.