Super Group (NYSE:SGHC) Shares Gap Up – Here’s Why

Super Group Limited (NYSE:SGHC) gapped up prior to trading on Wednesday . The stock had previously closed at $6.23, but opened at $6.54. Super Group shares last traded at $6.73, with a volume of 104,356 shares trading hands.

Wall Street Analysts Forecast Growth

SGHC has been the topic of a number of analyst reports. Benchmark increased their price target on Super Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Oppenheimer boosted their price target on Super Group from $6.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Needham & Company LLC upped their price objective on shares of Super Group from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Super Group Stock Performance

The company’s 50 day moving average price is $6.24 and its 200-day moving average price is $4.61. The stock has a market cap of $3.36 billion, a P/E ratio of 112.44 and a beta of 0.95.

Super Group Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a yield of 5.7%. Super Group’s dividend payout ratio (DPR) is 166.69%.

Hedge Funds Weigh In On Super Group

Several institutional investors have recently modified their holdings of the business. Caprock Group LLC lifted its position in shares of Super Group by 2.8% during the 3rd quarter. Caprock Group LLC now owns 71,933 shares of the company’s stock valued at $261,000 after buying an additional 1,959 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Super Group by 22.7% during 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. The Manufacturers Life Insurance Company lifted its holdings in shares of Super Group by 10.1% in the second quarter. The Manufacturers Life Insurance Company now owns 54,572 shares of the company’s stock worth $176,000 after buying an additional 5,005 shares in the last quarter. Algert Global LLC boosted its position in shares of Super Group by 54.5% in the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock valued at $61,000 after acquiring an additional 6,711 shares during the period. Finally, DGS Capital Management LLC purchased a new position in Super Group during the fourth quarter valued at approximately $73,000. 5.09% of the stock is owned by 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.