Super Group (NYSE:SGHC) Upgraded by Canaccord Genuity Group to “Buy” Rating

Super Group (NYSE:SGHC) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat.com reports. The firm presently has a $10.00 target price on the stock, up from their prior target price of $5.00. Canaccord Genuity Group’s price objective would indicate a potential upside of 47.36% from the stock’s current price.

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

Super Group Stock Up 0.8 %

NYSE:SGHC opened at $6.79 on Friday. The stock has a market capitalization of $3.38 billion, a PE ratio of 113.12 and a beta of 0.95. Super Group has a 52 week low of $2.90 and a 52 week high of $7.12. The stock’s 50-day moving average price is $6.30 and its 200-day moving average price is $4.64.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SGHC. Helikon Investments Ltd boosted its stake 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 purchasing an additional 1,462,418 shares during the last quarter. State Street Corp lifted its stake in shares of Super Group by 8.5% in the third quarter. State Street Corp now owns 2,490,833 shares of the company’s stock worth $9,042,000 after buying an additional 194,460 shares in the last quarter. Geode Capital Management LLC grew its stake in Super Group by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,742,924 shares of the company’s stock valued at $6,327,000 after acquiring an additional 14,507 shares in the last quarter. American Century Companies Inc. grew its stake in Super Group by 6,842.6% during the 2nd quarter. American Century Companies Inc. now owns 973,290 shares of the company’s stock valued at $3,144,000 after acquiring an additional 959,271 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Super Group by 82.1% in the 2nd quarter. Renaissance Technologies LLC now owns 295,600 shares of the company’s stock valued at $955,000 after acquiring an additional 133,300 shares during the last quarter. 5.09% of the stock is owned by institutional investors and hedge funds.

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.