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

Shares of Super Group Limited (NYSE:SGHC) 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 changing hands.

Wall Street Analysts Forecast Growth

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

Super Group Price Performance

The company has a market capitalization of $3.34 billion, a P/E ratio of 111.77 and a beta of 1.00. The company has a fifty day simple moving average of $7.47 and a two-hundred day simple moving average of $5.94.

Super Group Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, March 10th. This represents a yield of 3.6%. Super Group’s dividend payout ratio (DPR) is presently 266.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Super Group by 19.4% in the fourth quarter. American Century Companies Inc. now owns 4,353,121 shares of the company’s stock valued at $27,120,000 after purchasing an additional 707,723 shares during the last quarter. Helikon Investments Ltd grew its holdings 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 buying an additional 1,462,418 shares during the last quarter. State Street Corp increased its position in Super Group by 8.5% in the 3rd quarter. State Street Corp now owns 2,490,833 shares of the company’s stock worth $9,042,000 after buying an additional 194,460 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Super Group by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,742,924 shares of the company’s stock worth $6,327,000 after buying an additional 14,507 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Super Group by 500.9% in the fourth quarter. Invesco Ltd. now owns 1,493,783 shares of the company’s stock valued at $9,306,000 after acquiring an additional 1,245,185 shares during the period. 5.09% of the stock is currently owned by institutional investors and hedge funds.

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.