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

Super Group Limited (NYSE:SGHC)’s stock price gapped up before the market opened 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 trading hands.

Analysts Set New Price Targets

SGHC has been the subject of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of Super Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $5.00 to $10.00 in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Super Group in a research note on Wednesday. Oppenheimer upped their target price on Super Group from $6.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Benchmark lifted their price target on Super Group from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Super Group Price Performance

The stock has a market capitalization of $3.38 billion, a PE ratio of 113.12 and a beta of 0.95. The firm’s 50 day simple moving average is $6.30 and its 200 day simple moving average is $4.64.

Super Group Announces Dividend

The firm also recently declared a — dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd were paid a $0.15 dividend. This represents a yield of 5.7%. The ex-dividend date was Monday, December 23rd. Super Group’s dividend payout ratio is presently 166.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SGHC. Rhumbline Advisers lifted its stake in shares of Super Group by 14.9% in the 2nd quarter. Rhumbline Advisers now owns 173,904 shares of the company’s stock valued at $562,000 after acquiring an additional 22,571 shares during the last quarter. American Century Companies Inc. increased its stake in Super Group by 6,842.6% in the 2nd quarter. American Century Companies Inc. now owns 973,290 shares of the company’s stock worth $3,144,000 after purchasing an additional 959,271 shares during the period. Renaissance Technologies LLC lifted its position in Super Group by 82.1% in the second quarter. Renaissance Technologies LLC now owns 295,600 shares of the company’s stock valued at $955,000 after purchasing an additional 133,300 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Super Group by 47.3% during the second quarter. XTX Topco Ltd now owns 44,948 shares of the company’s stock valued at $145,000 after purchasing an additional 14,440 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Super Group by 49.1% during the second 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 period. 5.09% of the stock is owned by institutional investors.

Super Group Company Profile

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.