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

Super Group (SGHC) (NYSE:SGHC - Free Report) had its price objective increased by Needham & Company LLC from $11.00 to $14.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently commented on SGHC. BTIG Research raised their price target on shares of Super Group (SGHC) from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Wall Street Zen downgraded shares of Super Group (SGHC) from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Craig Hallum set a $12.00 target price on shares of Super Group (SGHC) in a research note on Monday, May 19th. Canaccord Genuity Group boosted their target price on shares of Super Group (SGHC) from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Benchmark restated a "buy" rating and issued a $12.00 target price on shares of Super Group (SGHC) in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $12.50.

Super Group (SGHC) Price Performance

Shares of NYSE SGHC traded down $0.20 during trading hours on Wednesday, reaching $11.79. The stock had a trading volume of 1,772,701 shares, compared to its average volume of 780,553. The business's fifty day moving average is $9.47 and its two-hundred day moving average is $7.93. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 43.66 and a beta of 1.09. Super Group has a twelve month low of $2.94 and a twelve month high of $12.17.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.03. The firm had revenue of $495.96 million during the quarter, compared to analysts' expectations of $423.91 million. Super Group (SGHC) had a net margin of 7.02% and a return on equity of 33.88%. Sell-side analysts forecast that Super Group will post 0.29 earnings per share for the current fiscal year.

Super Group (SGHC) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 23rd were given a dividend of $0.04 per share. The ex-dividend date was Monday, June 23rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.36%. Super Group (SGHC)'s dividend payout ratio (DPR) is presently 59.26%.

Institutional Investors Weigh In On Super Group (SGHC)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in shares of Super Group (SGHC) during the fourth quarter worth $369,000. SG Americas Securities LLC raised its position in shares of Super Group (SGHC) by 105.6% during the first quarter. SG Americas Securities LLC now owns 140,931 shares of the company's stock worth $908,000 after acquiring an additional 72,380 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Super Group (SGHC) by 50.6% during the fourth quarter. Nuveen Asset Management LLC now owns 682,462 shares of the company's stock worth $4,252,000 after acquiring an additional 229,211 shares during the last quarter. Millennium Management LLC raised its position in shares of Super Group (SGHC) by 66.1% during the fourth quarter. Millennium Management LLC now owns 1,204,663 shares of the company's stock worth $7,505,000 after acquiring an additional 479,440 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Super Group (SGHC) by 35.7% during the fourth quarter. Renaissance Technologies LLC now owns 134,901 shares of the company's stock worth $840,000 after acquiring an additional 35,500 shares during the last quarter. Institutional investors and hedge funds own 5.09% of the company's stock.

About Super Group (SGHC)

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.