Super Group (NYSE:SGHC) Raised to Buy at Canaccord Genuity Group

Super Group (NYSE:SGHC) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Friday, Marketbeat Ratings reports. The firm presently has a $10.00 price objective on the stock, up from their previous price objective of $5.00. Canaccord Genuity Group’s price target would suggest a potential upside of 47.36% from the company’s previous close.

Several other equities research analysts also recently weighed in on SGHC. Benchmark raised their price target on Super Group from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Oppenheimer boosted their price objective on shares of Super Group from $6.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Super Group in a research report on Wednesday.

Super Group Trading Up 0.8 %

Shares of SGHC opened at $6.79 on Friday. The firm has a market cap of $3.38 billion, a PE ratio of 113.12 and a beta of 0.95. Super Group has a 12 month low of $2.90 and a 12 month high of $7.12. The stock has a fifty day moving average price of $6.30 and a 200-day moving average price of $4.64.

Institutional Trading of Super Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Walleye Capital LLC purchased a new stake in Super Group in the third quarter valued at $54,000. Algert Global LLC boosted its stake in shares of Super Group by 54.5% in the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock worth $61,000 after buying an additional 6,711 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Super Group during the third quarter worth about $66,000. Burns Matteson Capital Management LLC purchased a new position in Super Group during the third quarter valued at approximately $70,000. Finally, DGS Capital Management LLC acquired a new position in Super Group in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 5.09% of the company’s stock.

About Super Group

Super Group (SGHC) Limited operates as an online sports betting and gaming operator. It offers Betway, an online sports betting brand; and Spin, a multi-brand online casino offering. Super Group (SGHC) Limited is based in Saint Peter Port, Guernsey.