Super Group (NYSE:SGHC) Sets New 12-Month High – Should You Buy?

Super Group Limited (NYSE:SGHC)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $4.07 and last traded at $4.05, with a volume of 49900 shares trading hands. The stock had previously closed at $4.00.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SGHC. Benchmark reiterated a “buy” rating and issued a $5.00 price target on shares of Super Group in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 target price on shares of Super Group in a report on Friday, August 9th.

Super Group Stock Performance

The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 34.83 and a beta of 0.71. The business has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $3.46.

Super Group (NYSE:SGHC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). Super Group had a return on equity of 12.17% and a net margin of 2.42%. The company had revenue of $446.44 million for the quarter, compared to the consensus estimate of $436.89 million. As a group, research analysts anticipate that Super Group Limited will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGHC. Price T Rowe Associates Inc. MD lifted its position in shares of Super Group by 13.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,112 shares of the company’s stock worth $135,000 after buying an additional 4,715 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Super Group by 10.1% during the second quarter. The Manufacturers Life Insurance Company now owns 54,572 shares of the company’s stock worth $176,000 after acquiring an additional 5,005 shares during the period. Algert Global LLC boosted its position in Super Group by 54.5% in the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock worth $61,000 after purchasing an additional 6,711 shares during the last quarter. Acadian Asset Management LLC bought a new position in Super Group in the 1st quarter valued at $31,000. Finally, ProShare Advisors LLC increased its position in shares of Super Group by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 36,556 shares of the company’s stock valued at $118,000 after purchasing an additional 12,037 shares during the last quarter. 5.09% of the stock is currently owned by hedge funds and other 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.