Needham & Company LLC Issues Positive Forecast for Super Group (NYSE:SGHC) Stock Price

Super Group (NYSE:SGHC) had its price objective increased by research analysts at Needham & Company LLC from $9.00 to $10.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 32.36% from the stock’s previous close.

A number of other research firms have also weighed in on SGHC. Oppenheimer raised their target price on Super Group from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Canaccord Genuity Group raised shares of Super Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $5.00 to $10.00 in a research report on Friday, January 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $10.00 price target on shares of Super Group in a report on Monday, January 27th.

Super Group Stock Down 7.5 %

NYSE:SGHC opened at $7.56 on Wednesday. The firm has a market capitalization of $3.76 billion, a P/E ratio of 125.94 and a beta of 0.99. The company has a fifty day moving average of $7.07 and a 200-day moving average of $5.41. Super Group has a twelve month low of $2.90 and a twelve month high of $8.51.

Institutional Investors Weigh In On Super Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SGHC. American Century Companies Inc. raised its stake in shares of Super Group by 19.4% during the 4th quarter. American Century Companies Inc. now owns 4,353,121 shares of the company’s stock valued at $27,120,000 after purchasing an additional 707,723 shares during the period. Helikon Investments Ltd increased its holdings in Super Group by 82.5% during the 4th quarter. Helikon Investments Ltd now owns 3,234,022 shares of the company’s stock worth $20,148,000 after acquiring an additional 1,462,418 shares during the period. State Street Corp lifted its stake in Super Group by 8.5% in the 3rd quarter. State Street Corp now owns 2,490,833 shares of the company’s stock worth $9,042,000 after purchasing an additional 194,460 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Super Group by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,742,924 shares of the company’s stock valued at $6,327,000 after purchasing an additional 14,507 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Super Group by 500.9% in the fourth quarter. Invesco Ltd. now owns 1,493,783 shares of the company’s stock worth $9,306,000 after purchasing an additional 1,245,185 shares during the period. Institutional investors own 5.09% of the company’s stock.

Super Group Company Profile

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.