Sportradar Group (NASDAQ:SRAD) Earns “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Sportradar Group (NASDAQ:SRAD) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $16.00 target price on the stock.

SRAD has been the topic of a number of other research reports. Needham & Company LLC restated a buy rating and set a $15.00 target price on shares of Sportradar Group in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Sportradar Group from $12.00 to $13.00 and gave the stock an overweight rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $13.88.

Sportradar Group Stock Performance

Shares of SRAD stock opened at $11.47 on Thursday. Sportradar Group has a 12 month low of $8.08 and a 12 month high of $15.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.26. The company’s fifty day moving average price is $10.36 and its 200-day moving average price is $10.20.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SRAD. JPMorgan Chase & Co. bought a new position in shares of Sportradar Group during the 1st quarter valued at approximately $5,492,000. Federated Hermes Inc. boosted its position in shares of Sportradar Group by 42.5% during the 1st quarter. Federated Hermes Inc. now owns 2,785,700 shares of the company’s stock valued at $46,354,000 after acquiring an additional 830,887 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Sportradar Group during the 1st quarter valued at approximately $218,000. Durable Capital Partners LP boosted its position in shares of Sportradar Group by 46.0% during the 1st quarter. Durable Capital Partners LP now owns 3,303,309 shares of the company’s stock valued at $54,967,000 after acquiring an additional 1,040,085 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Sportradar Group by 32.7% during the 1st quarter. UBS Group AG now owns 171,507 shares of the company’s stock valued at $2,854,000 after acquiring an additional 42,310 shares during the last quarter. 14.93% of the stock is currently owned by institutional investors.

About Sportradar Group

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.