Super Group (SGHC) (NYSE:SGHC) Shares Gap Up – Time to Buy?

Shares of Super Group (SGHC) Limited (NYSE:SGHC) gapped up before the market opened on Friday . The stock had previously closed at $10.66, but opened at $10.99. Super Group (SGHC) shares last traded at $10.48, with a volume of 344,402 shares.

Wall Street Analyst Weigh In

SGHC has been the subject of several research reports. Wall Street Zen downgraded Super Group (SGHC) from a “strong-buy” rating to a “buy” rating in a report on Monday, January 12th. Zacks Research upgraded Super Group (SGHC) from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Super Group (SGHC) in a research report on Tuesday, January 27th. Benchmark boosted their price objective on Super Group (SGHC) from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, BTIG Research decreased their price objective on Super Group (SGHC) from $19.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Super Group (SGHC) has an average rating of “Buy” and a consensus target price of $16.75.

Super Group (SGHC) Trading Down 2.0%

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 24.29 and a beta of 1.05. The business’s 50 day simple moving average is $10.01 and its 200 day simple moving average is $11.37.

Super Group (SGHC) Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $0.05 per share. This is an increase from Super Group (SGHC)’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th. Super Group (SGHC)’s dividend payout ratio is 46.51%.

Institutional Trading of Super Group (SGHC)

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGHC. Geode Capital Management LLC grew its stake in shares of Super Group (SGHC) by 7.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,888,540 shares of the company’s stock valued at $20,717,000 after purchasing an additional 138,065 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Super Group (SGHC) by 841.4% during the second quarter. Legal & General Group Plc now owns 295,755 shares of the company’s stock worth $3,243,000 after purchasing an additional 264,339 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Super Group (SGHC) by 321.6% during the second quarter. Squarepoint Ops LLC now owns 625,421 shares of the company’s stock worth $6,861,000 after purchasing an additional 477,084 shares during the last quarter. Abacus FCF Advisors LLC acquired a new stake in shares of Super Group (SGHC) during the third quarter worth $4,869,000. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of Super Group (SGHC) during the second quarter worth $959,000. 5.09% of the stock is owned by hedge funds and other institutional investors.

Super Group (SGHC) Company Profile

Super Group (NYSE: SGHC) is a global sports betting and iGaming operator that offers online wagering and gaming solutions under well-known brands such as Betway and Spin. The company’s technology platform supports fixed-odds and in-play sports betting, virtual sports, eSports wagering and a diverse suite of casino games, including slots, table games and live dealer experiences. Super Group’s digital infrastructure is designed to deliver a seamless, secure user experience across desktop and mobile devices.

The company holds operating licenses in multiple regulated jurisdictions, including the United Kingdom, Malta, Italy, Spain and selected states in the United States.