Sportradar Group (NASDAQ:SRAD) Price Target Cut to $14.00

Sportradar Group (NASDAQ:SRADGet Rating) had its price objective dropped by analysts at Deutsche Bank Aktiengesellschaft from $16.00 to $14.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 26.93% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley assumed coverage on Sportradar Group in a research note on Monday. They set an “equal weight” rating and a $12.00 target price for the company. Needham & Company LLC increased their target price on Sportradar Group from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Bank of America cut Sportradar Group from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $14.00 to $8.00 in a research note on Tuesday, October 4th. Finally, Canaccord Genuity Group increased their target price on Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sportradar Group presently has a consensus rating of “Moderate Buy” and an average target price of $16.82.

Sportradar Group Price Performance

Sportradar Group stock opened at $11.03 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $9.41 and a 200-day moving average of $9.61. Sportradar Group has a 52 week low of $7.10 and a 52 week high of $19.48.

Hedge Funds Weigh In On Sportradar Group

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in Sportradar Group in the first quarter worth $32,918,000. Durable Capital Partners LP increased its position in Sportradar Group by 46.0% in the first quarter. Durable Capital Partners LP now owns 3,303,309 shares of the company’s stock worth $54,967,000 after buying an additional 1,040,085 shares during the period. Spruce House Investment Management LLC increased its position in Sportradar Group by 40.0% in the second quarter. Spruce House Investment Management LLC now owns 3,500,000 shares of the company’s stock worth $27,650,000 after buying an additional 1,000,000 shares during the period. Federated Hermes Inc. increased its position in Sportradar Group by 42.5% in the first quarter. Federated Hermes Inc. now owns 2,785,700 shares of the company’s stock worth $46,354,000 after buying an additional 830,887 shares during the period. Finally, Millennium Management LLC increased its position in Sportradar Group by 343.7% in the second quarter. Millennium Management LLC now owns 438,084 shares of the company’s stock worth $3,461,000 after buying an additional 339,360 shares during the period. 56.71% of the stock is currently owned by institutional investors.

About Sportradar Group

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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.

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Analyst Recommendations for Sportradar Group (NASDAQ:SRAD)

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