Super Group (SGHC) (NYSE:SGHC) Raised to Buy at Wall Street Zen

Key Points

• Super Group (SGHC) was upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen, indicating growing confidence in the stock's potential.
• The company reported $579 million in revenue for the most recent quarter, surpassing analyst estimates of $503 million, although it missed earnings per share expectations.
• Analysts have set a consensus target price of $15.40 for Super Group, reflecting positive market sentiment, with multiple firms issuing buy and outperform ratings.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.

Other analysts have also recently issued reports about the company. Macquarie assumed coverage on Super Group (SGHC) in a report on Monday, September 15th. They issued an "outperform" rating and a $17.00 target price on the stock. BTIG Research reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Super Group (SGHC) in a research note on Thursday, September 18th. Citigroup reissued an "outperform" rating on shares of Super Group (SGHC) in a research note on Monday. UBS Group set a $18.00 price target on shares of Super Group (SGHC) in a research report on Thursday, September 18th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of Super Group (SGHC) in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $15.40.

Super Group (SGHC) Stock Up 2.2%

Shares of Super Group (SGHC) stock opened at $13.30 on Friday. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 51.16 and a beta of 1.09. Super Group has a twelve month low of $3.44 and a twelve month high of $13.71. The company's fifty day moving average is $11.77 and its 200 day moving average is $9.71.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last announced its earnings results on Thursday, September 4th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Super Group (SGHC) had a return on equity of 36.68% and a net margin of 6.42%.The company had revenue of $579.00 million for the quarter, compared to analyst estimates of $503.00 million. As a group, equities analysts anticipate that Super Group will post 0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Super Group (SGHC) by 132.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,453 shares of the company's stock valued at $27,000 after acquiring an additional 1,396 shares in the last quarter. Quarry LP grew its position in Super Group (SGHC) by 364.3% in the 1st quarter. Quarry LP now owns 3,988 shares of the company's stock valued at $26,000 after purchasing an additional 3,129 shares during the period. GAMMA Investing LLC increased its stake in Super Group (SGHC) by 4,606.6% during the 1st quarter. GAMMA Investing LLC now owns 4,283 shares of the company's stock valued at $28,000 after purchasing an additional 4,192 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Super Group (SGHC) by 56.6% during the first quarter. Pacer Advisors Inc. now owns 4,600 shares of the company's stock worth $30,000 after buying an additional 1,662 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Super Group (SGHC) by 95.9% in the first quarter. Signaturefd LLC now owns 5,439 shares of the company's stock valued at $35,000 after buying an additional 2,662 shares in the last quarter. 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.

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