Super Group (NYSE:SGHC) Shares Gap Up on Analyst Upgrade

Super Group Limited (NYSE:SGHC)’s share price gapped up prior to trading on Friday after Oppenheimer raised their price target on the stock from $6.00 to $9.00. The stock had previously closed at $6.75, but opened at $6.95. Oppenheimer currently has an outperform rating on the stock. Super Group shares last traded at $6.80, with a volume of 70,503 shares trading hands.

SGHC has been the subject of several other reports. Benchmark boosted their target price on shares of Super Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their price objective on Super Group from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGHC. Helikon Investments Ltd bought a new position in shares of Super Group during the 3rd quarter worth approximately $6,431,000. American Century Companies Inc. increased its position in shares of Super Group by 6,842.6% during the second quarter. American Century Companies Inc. now owns 973,290 shares of the company’s stock valued at $3,144,000 after acquiring an additional 959,271 shares during the last quarter. State Street Corp lifted its holdings in Super Group by 8.5% during the third quarter. State Street Corp now owns 2,490,833 shares of the company’s stock worth $9,042,000 after acquiring an additional 194,460 shares during the period. Barclays PLC boosted its position in Super Group by 141.1% in the third quarter. Barclays PLC now owns 269,435 shares of the company’s stock worth $978,000 after purchasing an additional 157,693 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in Super Group by 133.3% in the 3rd quarter. GSA Capital Partners LLP now owns 237,778 shares of the company’s stock valued at $863,000 after purchasing an additional 135,865 shares during the period. 5.09% of the stock is currently owned by hedge funds and other institutional investors.

Super Group Stock Performance

The stock has a market capitalization of $3.36 billion, a PE ratio of 112.50 and a beta of 0.95. The firm has a 50-day moving average price of $5.26 and a 200-day moving average price of $4.08.

Super Group Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Wednesday, January 8th. Investors of record on Monday, December 23rd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a yield of 5.7%. Super Group’s dividend payout ratio (DPR) is presently 166.67%.

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.