Oppenheimer Upgrades Super Group (NYSE:SGHC) to Outperform

Oppenheimer upgraded shares of Super Group (NYSE:SGHC) from a market perform rating to an outperform rating in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $6.00 price objective on the stock.

Several other brokerages have also weighed in on SGHC. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Super Group in a research report on Friday, August 9th. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Super Group in a research note on Thursday, August 8th.

Super Group Price Performance

Shares of SGHC stock opened at $5.36 on Thursday. The business’s fifty day moving average price is $3.89 and its 200 day moving average price is $3.59. The firm has a market capitalization of $2.67 billion, a PE ratio of 89.35 and a beta of 0.67. Super Group has a 1-year low of $2.63 and a 1-year high of $5.50.

Super Group (NYSE:SGHC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $446.44 million for the quarter, compared to analyst estimates of $436.89 million. Super Group had a return on equity of 15.51% and a net margin of 2.25%. Equities research analysts expect that Super Group will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Super Group

Large investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC acquired a new position in shares of Super Group during the 1st quarter worth approximately $47,000. Vanguard Group Inc. raised its holdings in shares of Super Group by 7.8% in the first quarter. Vanguard Group Inc. now owns 859,109 shares of the company’s stock worth $2,964,000 after acquiring an additional 61,937 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Super Group in the first quarter valued at $31,000. Anson Funds Management LP lifted its position in shares of Super Group by 482.7% in the first quarter. Anson Funds Management LP now owns 1,311,032 shares of the company’s stock valued at $4,523,000 after acquiring an additional 1,086,032 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new stake in shares of Super Group during the first quarter valued at $138,000. 5.09% of the stock is owned by institutional investors and hedge funds.

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.