Super Group (NYSE:SGHC) Stock Price Down 5.4% After Analyst Downgrade

Super Group Limited (NYSE:SGHCGet Rating) shares fell 5.4% during mid-day trading on Wednesday after Oppenheimer downgraded the stock from an outperform rating to a market perform rating. The stock traded as low as $3.50 and last traded at $3.50. 1,562 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 126,001 shares. The stock had previously closed at $3.70.

SGHC has been the subject of a number of other research reports. Benchmark downgraded Super Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Needham & Company LLC reduced their price target on Super Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 12th. Canaccord Genuity Group started coverage on Super Group in a research report on Friday, April 22nd. They set a “buy” rating and a $14.00 price target for the company. Finally, Canaccord Genuity Group reduced their price target on Super Group from $14.00 to $11.00 in a research report on Thursday, May 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Super Group presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Institutional Investors Weigh In On Super Group

A number of large investors have recently added to or reduced their stakes in SGHC. Millennium Management LLC raised its stake in Super Group by 122.1% in the 2nd quarter. Millennium Management LLC now owns 1,959,458 shares of the company’s stock worth $8,034,000 after purchasing an additional 1,077,285 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Super Group in the 2nd quarter worth about $3,213,000. FMR LLC raised its stake in Super Group by 5.4% in the 2nd quarter. FMR LLC now owns 8,811,861 shares of the company’s stock worth $36,129,000 after purchasing an additional 453,783 shares in the last quarter. Johnson Financial Group LLC acquired a new stake in Super Group in the 1st quarter worth about $719,000. Finally, Ronit Capital LLP acquired a new stake in Super Group in the 1st quarter worth about $753,000. Institutional investors own 2.73% of the company’s stock.

Super Group Stock Down 2.2 %

The firm’s 50 day simple moving average is $3.92 and its two-hundred day simple moving average is $4.75.

Super Group Company Profile

(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.

Read More

Receive News & Ratings for Super Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Super Group and related companies with MarketBeat.com's FREE daily email newsletter.