Super Group (NYSE:SGHC) Downgraded to Sell at Zacks Investment Research

Super Group (NYSE:SGHCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “SGHC Limited is the holding company for online sports betting and gaming businesses. SGHC Limited, formerly known as Sports Entertainment Acquisition Corporation, is based in NEW YORK. “

Several other equities research analysts have also issued reports on the company. Oppenheimer started coverage on Super Group in a research report on Monday, March 7th. They set an “outperform” rating and a $11.00 target price for the company. Needham & Company LLC lifted their price objective on Super Group from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, March 28th. Canaccord Genuity Group assumed coverage on Super Group in a report on Friday, April 22nd. They issued a “buy” rating and a $14.00 price objective for the company. Benchmark decreased their price objective on Super Group from $16.00 to $14.00 in a report on Thursday, April 14th. Finally, Canaccord Genuity Group assumed coverage on Super Group in a report on Friday, April 22nd. They issued a “buy” rating and a $14.00 price objective for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $13.00.

NYSE SGHC traded down $0.10 on Tuesday, reaching $8.45. The company had a trading volume of 1,541 shares, compared to its average volume of 304,903. The business has a fifty day moving average price of $9.44. Super Group has a 52-week low of $7.08 and a 52-week high of $11.09.

A hedge fund recently bought a new stake in Super Group stock. Johnson Financial Group LLC purchased a new stake in shares of Super Group Limited (NYSE:SGHCGet Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 250,000 shares of the company’s stock, valued at approximately $719,000. Super Group comprises approximately 0.1% of Johnson Financial Group LLC’s portfolio, making the stock its 22nd biggest position. Johnson Financial Group LLC owned about 0.05% of Super Group at the end of the most recent quarter. 4.48% of the stock is currently owned by institutional investors.

About Super Group (Get Rating)

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.

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