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

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 equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

SGHC has been the subject of several other research reports. BTIG Research restated a "buy" rating on shares of Super Group (SGHC) in a research note on Tuesday, July 8th. Canaccord Genuity Group upped their price objective on shares of Super Group (SGHC) from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. 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 objective for the company. Benchmark upped their price objective on shares of Super Group (SGHC) from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, JMP Securities started coverage on shares of Super Group (SGHC) in a research note on Monday, July 14th. They issued a "market outperform" rating and a $15.00 price objective for the company. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $13.88.

Super Group (SGHC) Stock Performance

NYSE SGHC traded up $0.17 during trading hours on Friday, hitting $10.98. The company had a trading volume of 1,292,176 shares, compared to its average volume of 1,096,788. Super Group has a 1-year low of $3.03 and a 1-year high of $12.18. The company has a market cap of $5.53 billion, a PE ratio of 40.67 and a beta of 1.08. The business has a 50 day moving average of $10.57 and a 200-day moving average of $8.72.

Institutional Investors Weigh In On Super Group (SGHC)

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP raised its position in shares of Super Group (SGHC) by 364.3% during the 1st quarter. Quarry LP now owns 3,988 shares of the company's stock worth $26,000 after purchasing an additional 3,129 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Super Group (SGHC) by 132.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,453 shares of the company's stock worth $27,000 after purchasing an additional 1,396 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Super Group (SGHC) by 4,606.6% during the 1st quarter. GAMMA Investing LLC now owns 4,283 shares of the company's stock worth $28,000 after purchasing an additional 4,192 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Super Group (SGHC) during the 4th quarter worth approximately $30,000. Finally, Pacer Advisors Inc. raised its position in shares of Super Group (SGHC) by 56.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,600 shares of the company's stock worth $30,000 after purchasing an additional 1,662 shares during the last quarter. 5.09% of the stock is currently owned by institutional investors and hedge funds.

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.