Canaccord Genuity Group Forecasts Strong Price Appreciation for Super Group (NYSE:SGHC) Stock

Super Group (NYSE:SGHC) had its price objective boosted by stock analysts at Canaccord Genuity Group from $10.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 40.94% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Super Group in a report on Monday, January 27th. Oppenheimer upped their target price on shares of Super Group from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC upped their target price on Super Group from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday.

Super Group Stock Performance

Shares of NYSE SGHC traded up $0.27 during midday trading on Wednesday, hitting $7.81. 246,041 shares of the company traded hands, compared to its average volume of 802,753. Super Group has a 12-month low of $2.90 and a 12-month high of $8.51. The stock has a 50-day moving average price of $7.07 and a 200 day moving average price of $5.41. The firm has a market cap of $3.89 billion, a P/E ratio of 130.11 and a beta of 0.99.

Hedge Funds Weigh In On Super Group

Several hedge funds have recently added to or reduced their stakes in the stock. Caprock Group LLC raised its stake in shares of Super Group by 2.8% during the third quarter. Caprock Group LLC now owns 71,933 shares of the company’s stock worth $261,000 after purchasing an additional 1,959 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Super Group by 17.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 15,676 shares of the company’s stock worth $98,000 after acquiring an additional 2,307 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Super Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,279 shares of the company’s stock worth $531,000 after buying an additional 2,997 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of Super Group by 7.8% in the 4th quarter. Tudor Investment Corp ET AL now owns 41,773 shares of the company’s stock valued at $260,000 after purchasing an additional 3,022 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Super Group by 22.7% in the third quarter. HighTower Advisors LLC now owns 21,576 shares of the company’s stock valued at $78,000 after buying an additional 3,993 shares during the period. 5.09% of the stock is currently owned by hedge funds and other institutional investors.

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.