Super Group (NYSE:SGHC) Price Target Raised to $7.00

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

Several other research analysts have also recently issued reports on SGHC. Oppenheimer raised Super Group from a “market perform” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research note on Thursday. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Super Group in a research report on Thursday, August 8th.

Super Group Stock Performance

NYSE SGHC opened at $5.36 on Thursday. The stock has a market cap of $2.67 billion, a PE ratio of 89.35 and a beta of 0.67. Super Group has a 12 month low of $2.63 and a 12 month high of $5.50. The company’s 50-day moving average price is $3.89 and its 200-day moving average price is $3.59.

Super Group (NYSE:SGHC) last issued its 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. As a group, sell-side analysts forecast that Super Group will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Helikon Investments Ltd bought a new position in shares of Super Group during the 3rd quarter worth approximately $6,431,000. Anson Funds Management LP increased its position in shares of Super Group by 482.7% during the first quarter. Anson Funds Management LP now owns 1,311,032 shares of the company’s stock worth $4,523,000 after purchasing an additional 1,086,032 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 purchasing an additional 959,271 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Super Group by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 859,109 shares of the company’s stock worth $2,964,000 after purchasing an additional 61,937 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Super Group by 26.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 420,320 shares of the company’s stock worth $1,358,000 after buying an additional 87,118 shares during the last quarter. 5.09% of the stock is owned by institutional investors.

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.