Guggenheim Initiates Coverage on Sportradar Group (NASDAQ:SRAD)

Equities researchers at Guggenheim assumed coverage on shares of Sportradar Group (NASDAQ:SRAD) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $27.00 price target on the stock. Guggenheim’s price objective would suggest a potential upside of 24.65% from the company’s previous close.

Several other research analysts have also weighed in on SRAD. Citigroup increased their price objective on Sportradar Group from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Canaccord Genuity Group increased their price target on Sportradar Group from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and set a $19.00 price objective on shares of Sportradar Group in a research report on Monday, January 27th. Jefferies Financial Group upped their target price on shares of Sportradar Group from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Benchmark lifted their price target on shares of Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Sportradar Group Stock Performance

NASDAQ:SRAD opened at $21.66 on Wednesday. The company’s 50-day moving average is $19.77 and its two-hundred day moving average is $15.78. Sportradar Group has a 1-year low of $9.17 and a 1-year high of $22.94. 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 firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 108.31, a PEG ratio of 1.53 and a beta of 2.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SRAD. National Bank of Canada FI lifted its holdings in Sportradar Group by 1,366.4% during the 4th quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock worth $27,000 after buying an additional 1,462 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Sportradar Group during the fourth quarter worth $28,000. US Bancorp DE acquired a new stake in shares of Sportradar Group in the fourth quarter valued at $39,000. Point72 Hong Kong Ltd purchased a new position in Sportradar Group in the third quarter valued at $41,000. Finally, Loomis Sayles & Co. L P acquired a new position in Sportradar Group during the 4th quarter worth $43,000.

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.