Canaccord Genuity Group Forecasts Strong Price Appreciation for Super Group (SGHC) (NYSE:SGHC) Stock

Super Group (SGHC) (NYSE:SGHC - Get Free Report) had its price objective raised by equities researchers at Canaccord Genuity Group from $14.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 30.21% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Craig Hallum set a $12.00 price objective on Super Group (SGHC) in a research report on Monday, May 19th. Wall Street Zen downgraded shares of Super Group (SGHC) from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. BTIG Research lifted 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. Needham & Company LLC increased their price objective on shares of Super Group (SGHC) from $11.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Benchmark restated a "buy" rating and issued a $12.00 target price on shares of Super Group (SGHC) in a report on Wednesday, April 16th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Super Group (SGHC) presently has an average rating of "Buy" and a consensus target price of $12.50.

Super Group (SGHC) Stock Down 2.3%

Shares of NYSE SGHC traded down $0.27 during trading on Wednesday, reaching $11.52. The company had a trading volume of 1,559,726 shares, compared to its average volume of 784,135. The business's 50-day moving average is $9.53 and its 200 day moving average is $7.96. The stock has a market cap of $5.80 billion, a PE ratio of 42.67 and a beta of 1.09. Super Group has a 12-month low of $2.94 and a 12-month high of $12.18.

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

Institutional Investors Weigh In On Super Group (SGHC)

A number of hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Super Group (SGHC) by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 362,798 shares of the company's stock valued at $2,260,000 after purchasing an additional 8,232 shares during the period. Globeflex Capital L P purchased a new position in shares of Super Group (SGHC) during the 4th quarter valued at about $576,000. Cibc World Markets Corp purchased a new position in Super Group (SGHC) during the fourth quarter valued at approximately $87,000. Boston Partners boosted its position in shares of Super Group (SGHC) by 15.0% in the fourth quarter. Boston Partners now owns 292,495 shares of the company's stock worth $1,822,000 after purchasing an additional 38,096 shares during the period. Finally, Xponance Inc. purchased a new stake in shares of Super Group (SGHC) in the fourth quarter worth $67,000. Institutional investors 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.