Super Group (NYSE:SGHC) Shares Gap Up – Still a Buy?

Super Group Limited (NYSE:SGHC)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $6.74, but opened at $6.90. Super Group shares last traded at $6.71, with a volume of 71,236 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SGHC shares. Needham & Company LLC raised their price target on shares of Super Group from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. BTIG Research started coverage on shares of Super Group in a research report on Friday. They issued a “buy” rating and a $9.00 price objective for the company. Oppenheimer upped their price target on Super Group from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Benchmark reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Super Group in a research note on Monday, January 27th. Finally, Canaccord Genuity Group boosted their target price on Super Group from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Super Group currently has a consensus rating of “Buy” and an average target price of $10.20.

Super Group Price Performance

The company has a market cap of $3.30 billion, a P/E ratio of 110.45 and a beta of 1.00. The company’s 50-day moving average price is $7.49 and its 200-day moving average price is $5.98.

Super Group Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $0.04 per share. The ex-dividend date was Monday, March 10th. This represents a dividend yield of 3.6%. Super Group’s payout ratio is presently 266.67%.

Institutional Trading of Super Group

A number of institutional investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. increased its position in shares of Super Group by 17.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,676 shares of the company’s stock valued at $98,000 after acquiring an additional 2,307 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $531,000 after buying an additional 2,997 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Super Group by 7.8% during the fourth quarter. Tudor Investment Corp ET AL now owns 41,773 shares of the company’s stock worth $260,000 after purchasing an additional 3,022 shares during the period. HighTower Advisors LLC increased its position in Super Group by 22.7% during the 3rd quarter. HighTower Advisors LLC now owns 21,576 shares of the company’s stock worth $78,000 after buying an additional 3,993 shares during the period. Finally, Principal Street Partners LLC increased its position in Super Group by 22.7% during the fourth quarter. Principal Street Partners LLC now owns 21,576 shares of the company’s stock worth $134,000 after acquiring an additional 3,993 shares during the period. Institutional investors own 5.09% of the company’s stock.

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.