Super Group Limited (NYSE:SGHC) Sees Large Growth in Short Interest

Super Group Limited (NYSE:SGHC) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 1,590,000 shares, an increase of 27.2% from the August 31st total of 1,250,000 shares. Based on an average daily trading volume, of 491,900 shares, the days-to-cover ratio is currently 3.2 days. Approximately 1.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of Super Group in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price target on shares of Super Group in a research note on Friday, August 9th.

Super Group Stock Performance

Shares of SGHC stock traded up $0.06 during midday trading on Friday, hitting $3.53. 1,091,100 shares of the company were exchanged, compared to its average volume of 434,560. The firm has a market capitalization of $1.76 billion, a P/E ratio of 29.42 and a beta of 0.70. Super Group has a 52 week low of $2.63 and a 52 week high of $3.98. The firm’s 50 day moving average price is $3.47 and its two-hundred day moving average price is $3.41.

Super Group (NYSE:SGHC) last announced its 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 firm had revenue of $446.44 million for the quarter, compared to the consensus estimate of $436.89 million. Super Group had a return on equity of 12.17% and a net margin of 2.42%. Analysts expect that Super Group will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Super Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 valued at $2,964,000 after buying an additional 61,937 shares in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Super Group during the 1st quarter worth $138,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Super Group by 318.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 118,651 shares of the company’s stock worth $409,000 after purchasing an additional 90,289 shares in the last quarter. Bleakley Financial Group LLC bought a new position in shares of Super Group in the first quarter worth $47,000. Finally, Acadian Asset Management LLC acquired a new position in Super Group in the first quarter valued at about $31,000. Institutional investors and hedge funds own 5.09% of the company’s stock.

Super Group Company Profile

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.