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

Key Points

• Super Group (SGHC) has been downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating, signaling a shift in analyst sentiment.
• Canaccord Genuity increased their price target for SGHC to $17.00, while the stock's consensus rating remains "Buy" with a target price of $13.88.
• The company's shares opened at $10.72, reflecting a significant increase with a 12-month range between $2.94 and $12.18.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

Other equities analysts have also issued reports about the stock. Citizens Jmp assumed coverage on shares of Super Group (SGHC) in a research note on Monday, July 14th. They issued a "strong-buy" rating and a $15.00 price target on the stock. Benchmark boosted their price objective on Super Group (SGHC) from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Citigroup assumed coverage on Super Group (SGHC) in a research note on Monday, July 14th. They issued an "outperform" rating on the stock. BTIG Research reiterated a "buy" rating on shares of Super Group (SGHC) in a research note on Tuesday, July 8th. Finally, Needham & Company LLC lifted their price target on Super Group (SGHC) from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $13.88.

Super Group (SGHC) Stock Up 4.9%

Super Group (SGHC) stock traded up $0.54 during trading on Friday, reaching $11.51. The stock had a trading volume of 769,974 shares, compared to its average volume of 1,094,162. Super Group has a 52-week low of $3.09 and a 52-week high of $12.18. The business has a 50 day moving average price of $10.62 and a 200 day moving average price of $8.73. The stock has a market cap of $5.79 billion, a PE ratio of 42.65 and a beta of 1.08.

Hedge Funds Weigh In On Super Group (SGHC)

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Super Group (SGHC) by 332.8% during the fourth quarter. JPMorgan Chase & Co. now owns 981,950 shares of the company's stock worth $6,118,000 after acquiring an additional 755,044 shares during the last quarter. Trexquant Investment LP purchased a new stake in Super Group (SGHC) during the fourth quarter worth approximately $456,000. Wells Fargo & Company MN grew its stake in Super Group (SGHC) by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 70,017 shares of the company's stock worth $436,000 after buying an additional 23,865 shares during the period. Russell Investments Group Ltd. grew its stake in Super Group (SGHC) by 24.1% during the fourth quarter. Russell Investments Group Ltd. now owns 23,975 shares of the company's stock worth $149,000 after buying an additional 4,661 shares during the period. Finally, Invesco Ltd. grew its stake in Super Group (SGHC) by 500.9% during the fourth quarter. Invesco Ltd. now owns 1,493,783 shares of the company's stock worth $9,306,000 after buying an additional 1,245,185 shares during the period. Hedge funds and other 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.