Needham & Company LLC Forecasts Strong Price Appreciation for Super Group (NYSE:SGHC) Stock

Super Group (NYSE:SGHC) had its price objective increased by Needham & Company LLC from $6.00 to $7.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

SGHC has been the topic of a number of other research reports. Oppenheimer upgraded Super Group from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $5.00 price objective on shares of Super Group in a research note on Thursday, August 8th.

Super Group Stock Performance

NYSE:SGHC opened at $5.36 on Thursday. The firm has a fifty day simple moving average of $3.89 and a 200-day simple moving average of $3.59. Super Group has a 12 month low of $2.63 and a 12 month high of $5.50. The company has a market capitalization of $2.67 billion, a P/E ratio of 89.35 and a beta of 0.67.

Super Group (NYSE:SGHC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The firm had revenue of $446.44 million for the quarter, compared to analyst estimates of $436.89 million. Super Group had a return on equity of 15.51% and a net margin of 2.25%. Equities analysts forecast that Super Group will post 0.25 EPS for the current year.

Institutional Trading of Super Group

A number of institutional investors and hedge funds have recently made changes to their positions in SGHC. Caprock Group LLC lifted its stake in Super Group by 2.8% in the 3rd quarter. Caprock Group LLC now owns 71,933 shares of the company’s stock valued at $261,000 after buying an additional 1,959 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Super Group by 13.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,112 shares of the company’s stock valued at $135,000 after acquiring an additional 4,715 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Super Group by 10.1% in the second quarter. The Manufacturers Life Insurance Company now owns 54,572 shares of the company’s stock worth $176,000 after acquiring an additional 5,005 shares during the last quarter. Algert Global LLC increased its position in shares of Super Group by 54.5% during the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock worth $61,000 after purchasing an additional 6,711 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Super Group in the 1st quarter valued at $31,000. 5.09% of the stock is currently owned by hedge funds and other institutional investors.

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.