Needham & Company LLC Reiterates “Buy” Rating for Super Group (NYSE:SGHC)

Super Group (NYSE:SGHC)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They presently have a $9.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 32.94% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Oppenheimer raised their price objective on Super Group from $6.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Benchmark boosted their target price on Super Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Super Group Trading Up 8.7 %

SGHC traded up $0.54 during midday trading on Wednesday, hitting $6.77. 367,681 shares of the company were exchanged, compared to its average volume of 419,045. The company’s 50 day simple moving average is $6.24 and its 200 day simple moving average is $4.61. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 112.85 and a beta of 0.95. Super Group has a 1-year low of $2.90 and a 1-year high of $7.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC acquired a new position in Super Group in the fourth quarter worth about $73,000. Walleye Capital LLC bought a new stake in Super Group in the third quarter worth about $54,000. Intech Investment Management LLC acquired a new stake in shares of Super Group during the 3rd quarter valued at $66,000. Algert Global LLC lifted its stake in Super Group by 54.5% during the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock valued at $61,000 after buying an additional 6,711 shares in the last quarter. Finally, Burns Matteson Capital Management LLC purchased a new stake in shares of Super Group in the third quarter valued at $70,000. Institutional investors and hedge funds own 5.09% of the company’s stock.

About Super Group

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.