Super Group (NYSE:SGHC) Upgraded by Canaccord Genuity Group to “Buy” Rating

Canaccord Genuity Group upgraded shares of Super Group (NYSE:SGHC) from a hold rating to a buy rating in a report released on Friday morning, MarketBeat reports. Canaccord Genuity Group currently has $10.00 target price on the stock, up from their prior target price of $5.00.

A number of other equities analysts also recently commented on SGHC. Benchmark boosted their target price on shares of Super Group from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Oppenheimer increased their target price on shares of Super Group from $6.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Super Group in a research note on Wednesday.

Super Group Trading Up 16.3 %

Shares of NYSE SGHC opened at $7.92 on Friday. The stock has a market capitalization of $3.94 billion, a PE ratio of 132.06 and a beta of 0.95. Super Group has a 12-month low of $2.90 and a 12-month high of $7.97. The stock’s fifty day simple moving average is $6.35 and its two-hundred day simple moving average is $4.67.

Super Group Announces Dividend

The business also recently announced a — dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd were given a dividend of $0.15 per share. This represents a yield of 5.7%. The ex-dividend date of this dividend was Monday, December 23rd. Super Group’s dividend payout ratio is presently 166.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SGHC. Helikon Investments Ltd acquired a new position in shares of Super Group in the 3rd quarter valued at $6,431,000. American Century Companies Inc. increased its holdings in shares of Super Group by 6,842.6% in the second quarter. American Century Companies Inc. now owns 973,290 shares of the company’s stock valued at $3,144,000 after purchasing an additional 959,271 shares during the period. State Street Corp raised its stake in shares of Super Group by 8.5% in the third quarter. State Street Corp now owns 2,490,833 shares of the company’s stock worth $9,042,000 after purchasing an additional 194,460 shares during the last quarter. Barclays PLC lifted its holdings in shares of Super Group by 141.1% during the third quarter. Barclays PLC now owns 269,435 shares of the company’s stock worth $978,000 after purchasing an additional 157,693 shares during the period. Finally, GSA Capital Partners LLP boosted its position in Super Group by 133.3% in the third quarter. GSA Capital Partners LLP now owns 237,778 shares of the company’s stock valued at $863,000 after buying an additional 135,865 shares during the last quarter. Hedge funds and other institutional investors own 5.09% of the company’s stock.

Super Group Company Profile

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.