Super Group (NYSE:SGHC) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Super Group (NYSE:SGHC) had its price objective boosted by research analysts at Needham & Company LLC from $9.00 to $10.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 31.67% from the stock’s previous close.

A number of other equities analysts have also recently commented on SGHC. Oppenheimer lifted their target price on shares of Super Group from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group upgraded 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 report on Friday, January 24th. Finally, Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Super Group in a research note on Monday, January 27th.

Super Group Stock Performance

SGHC stock opened at $7.60 on Wednesday. The company has a market capitalization of $3.78 billion, a PE ratio of 126.60 and a beta of 0.99. Super Group has a one year low of $2.90 and a one year high of $8.51. The company’s 50 day moving average price is $7.12 and its two-hundred day moving average price is $5.44.

Hedge Funds Weigh In On Super Group

A number of hedge funds have recently modified their holdings of the company. Barclays PLC grew its stake in shares of Super Group by 141.1% in the third quarter. Barclays PLC now owns 269,435 shares of the company’s stock worth $978,000 after purchasing an additional 157,693 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Super Group by 106.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 226,906 shares of the company’s stock worth $824,000 after buying an additional 116,740 shares during the period. State Street Corp grew its position in shares of 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 buying an additional 194,460 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Super Group by 133.3% during the third quarter. GSA Capital Partners LLP now owns 237,778 shares of the company’s stock valued at $863,000 after buying an additional 135,865 shares during the period. Finally, Helikon Investments Ltd raised its holdings in shares of Super Group by 82.5% during the fourth quarter. Helikon Investments Ltd now owns 3,234,022 shares of the company’s stock valued at $20,148,000 after acquiring an additional 1,462,418 shares in the last quarter. Hedge funds and other 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.