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

Shares of 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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SGHC shares. Canaccord Genuity Group raised shares of Super Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $5.00 to $10.00 in a research report on Friday. Benchmark lifted their price target on Super Group from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Oppenheimer upped their price objective on Super Group from $6.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Super Group in a research note on Wednesday.

Super Group Trading Up 0.8 %

The business’s fifty day moving average is $6.30 and its 200 day moving average is $4.64. The company has a market cap of $3.38 billion, a P/E ratio of 113.12 and a beta of 0.95.

Super Group Dividend Announcement

The company also recently announced 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 dividend yield of 5.7%. Super Group’s payout ratio is presently 166.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Helikon Investments Ltd raised its stake in Super Group by 82.5% in the 4th quarter. Helikon Investments Ltd now owns 3,234,022 shares of the company’s stock valued at $20,148,000 after acquiring an additional 1,462,418 shares during the period. State Street Corp raised its position in shares of Super Group by 8.5% in the third quarter. State Street Corp now owns 2,490,833 shares of the company’s stock valued at $9,042,000 after purchasing an additional 194,460 shares during the period. Geode Capital Management LLC lifted its stake in shares of Super Group by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,742,924 shares of the company’s stock valued at $6,327,000 after buying an additional 14,507 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Super Group by 6,842.6% during the 2nd quarter. American Century Companies Inc. now owns 973,290 shares of the company’s stock valued at $3,144,000 after buying an additional 959,271 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Super Group by 82.1% in the 2nd quarter. Renaissance Technologies LLC now owns 295,600 shares of the company’s stock worth $955,000 after buying an additional 133,300 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.