Sportradar Group (NASDAQ:SRAD) Reaches New 52-Week High – Here’s Why

Shares of Sportradar Group AG (NASDAQ:SRAD) reached a new 52-week high on Wednesday . The company traded as high as $17.26 and last traded at $17.25, with a volume of 95313 shares. The stock had previously closed at $16.89.

Analysts Set New Price Targets

SRAD has been the topic of a number of research analyst reports. Benchmark raised their price objective on shares of Sportradar Group from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Sportradar Group in a research report on Wednesday, August 14th. Jefferies Financial Group upgraded shares of Sportradar Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $12.00 to $16.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upgraded shares of Sportradar Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $15.00 in a research report on Monday, October 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Sportradar Group in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sportradar Group currently has an average rating of “Moderate Buy” and an average target price of $15.63.

Sportradar Group Stock Up 1.0 %

The firm’s 50 day moving average is $12.71 and its two-hundred day moving average is $11.46. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of 86.75, a P/E/G ratio of 3.26 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.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SRAD. Quarry LP raised its holdings in Sportradar Group by 187.4% in the second quarter. Quarry LP now owns 2,690 shares of the company’s stock valued at $30,000 after buying an additional 1,754 shares during the period. Point72 Hong Kong Ltd acquired a new position in Sportradar Group in the third quarter worth $41,000. nVerses Capital LLC boosted its holdings in 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 purchasing an additional 2,400 shares during the period. Lazard Asset Management LLC bought a new stake in Sportradar Group in the first quarter valued at $60,000. Finally, Point72 Asset Management L.P. bought a new stake in Sportradar Group in the second quarter valued at $75,000.

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.