Super Group (NYSE:SGHC) Shares Up 5.1% – Here’s Why

Shares of Super Group Limited (NYSE:SGHC) shot up 5.1% during mid-day trading on Monday . The stock traded as high as $5.63 and last traded at $5.59. 121,851 shares traded hands during trading, a decline of 71% from the average session volume of 424,711 shares. The stock had previously closed at $5.32.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SGHC shares. Needham & Company LLC lifted their price target on Super Group from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark lifted their price target on shares of Super Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Oppenheimer upgraded shares of Super Group from a “market perform” rating to an “outperform” rating and set a $6.00 price objective for the company in a research report on Thursday, November 7th.

Super Group Stock Up 9.0 %

The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 95.68 and a beta of 0.67. The business’s 50-day moving average is $4.08 and its two-hundred day moving average is $3.67.

Hedge Funds Weigh In On Super Group

Institutional investors have recently modified their holdings of the business. Caprock Group LLC boosted its stake in shares of Super Group by 2.8% in the 3rd quarter. Caprock Group LLC now owns 71,933 shares of the company’s stock valued at $261,000 after buying an additional 1,959 shares during the period. HighTower Advisors LLC grew its holdings 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 acquiring an additional 3,993 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Super Group by 13.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,112 shares of the company’s stock valued at $135,000 after purchasing an additional 4,715 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Super Group by 10.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,572 shares of the company’s stock valued at $176,000 after purchasing an additional 5,005 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Super Group by 54.5% during the 2nd 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. Institutional investors and hedge funds 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.