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

Shares of Super Group Limited (NYSE:SGHC) gapped up prior to trading 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

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

Super Group Stock Down 1.7 %

The company has a 50-day moving average of $7.49 and a 200-day moving average of $5.98. The company has a market cap of $3.30 billion, a PE ratio of 110.45 and a beta of 1.00.

Super Group Announces Dividend

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

Institutional Trading of Super Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. increased its holdings in Super Group by 17.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 15,676 shares of the company’s stock worth $98,000 after buying an additional 2,307 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Super Group by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,279 shares of the company’s stock worth $531,000 after acquiring an additional 2,997 shares during the period. Tudor Investment Corp ET AL boosted its stake in Super Group by 7.8% in the 4th quarter. Tudor Investment Corp ET AL now owns 41,773 shares of the company’s stock worth $260,000 after purchasing an additional 3,022 shares during the period. HighTower Advisors LLC grew its stake in Super Group by 22.7% during the third quarter. HighTower Advisors LLC now owns 21,576 shares of the company’s stock valued at $78,000 after acquiring an additional 3,993 shares in the last quarter. Finally, Principal Street Partners LLC grew its position in shares of Super Group by 22.7% during the 4th quarter. Principal Street Partners LLC now owns 21,576 shares of the company’s stock valued at $134,000 after purchasing an additional 3,993 shares in the last quarter. 5.09% of the stock is owned by hedge funds and other institutional investors.

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.