Super Group (NYSE:SGHC) Raised to “Outperform” at Oppenheimer

Oppenheimer upgraded shares of Super Group (NYSE:SGHC) from a market perform rating to an outperform rating in a research report report published on Thursday morning, MarketBeat Ratings reports. The firm currently has $6.00 price objective on the stock.

Several other brokerages have also issued reports on SGHC. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Super Group in a research note on Friday, August 9th. Benchmark reaffirmed a “buy” rating and issued a $5.00 target price on shares of Super Group in a research note on Thursday, August 8th.

Super Group Stock Performance

Shares of NYSE SGHC remained flat at $5.36 during midday trading on Thursday. The stock had a trading volume of 509,281 shares, compared to its average volume of 419,679. The firm has a 50-day moving average price of $3.86 and a two-hundred day moving average price of $3.57. The stock has a market capitalization of $2.67 billion, a P/E ratio of 89.35 and a beta of 0.67. Super Group has a 52 week low of $2.63 and a 52 week high of $5.50.

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). Super Group had a return on equity of 15.51% and a net margin of 2.25%. The company had revenue of $446.44 million during the quarter, compared to the consensus estimate of $436.89 million. On average, equities research analysts forecast that Super Group will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Super Group

A number of hedge funds and other institutional investors have recently modified their holdings of SGHC. Acadian Asset Management LLC purchased a new stake in Super Group during the 1st quarter valued at $31,000. Bleakley Financial Group LLC purchased a new stake in shares of Super Group during the first quarter worth about $47,000. Algert Global LLC grew 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 purchasing an additional 6,711 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new position in Super Group during the 3rd quarter valued at about $70,000. Finally, AQR Capital Management LLC purchased a new stake in Super Group in the 2nd quarter worth approximately $77,000. Institutional investors 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.