Super Group (NYSE:SGHC) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Super Group (NYSE:SGHC – Get Rating) in a research report released on Wednesday, Benzinga reports. The brokerage currently has a $5.00 price objective on the stock.

Separately, Canaccord Genuity Group lowered shares of Super Group from a buy rating to a hold rating and cut their price target for the stock from $8.00 to $5.00 in a report on Tuesday, March 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Super Group currently has an average rating of Hold and a consensus target price of $8.75.

Super Group Price Performance

Super Group stock opened at $3.64 on Wednesday. Super Group has a twelve month low of $2.57 and a twelve month high of $11.09. The firm has a 50 day moving average price of $3.60 and a 200-day moving average price of $3.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC bought a new stake in shares of Super Group in the 1st quarter valued at about $137,000. Jane Street Group LLC raised its position in shares of Super Group by 58.2% in the 4th quarter. Jane Street Group LLC now owns 26,785 shares of the company’s stock valued at $80,000 after purchasing an additional 9,851 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Super Group in the 1st quarter valued at approximately $60,000. Mariner LLC raised its position in shares of Super Group by 54.8% in the 4th quarter. Mariner LLC now owns 19,604 shares of the company’s stock valued at $59,000 after purchasing an additional 6,939 shares during the last quarter. Finally, LPL Financial LLC purchased a new position in shares of Super Group in the 2nd quarter valued at approximately $47,000. 2.92% of the stock is currently owned by institutional investors.

About Super Group

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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. The company is based in Saint Peter Port, Guernsey.