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

Super Group Limited (NYSE:SGHC) gapped up before the market opened 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.

A number of other research analysts also recently commented on SGHC. Needham & Company LLC boosted their price objective on shares of Super Group from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday. Benchmark lifted their target price 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.

Hedge Funds Weigh In On Super Group

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Super Group by 141.1% in the 3rd quarter. Barclays PLC now owns 269,435 shares of the company’s stock valued at $978,000 after purchasing an additional 157,693 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Super Group by 0.8% in 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. State Street Corp lifted its position in shares of Super Group by 8.5% in the third 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 last quarter. HighTower Advisors LLC boosted its stake in shares of 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. Finally, Walleye Capital LLC acquired a new position in shares of Super Group during the 3rd quarter valued at about $54,000. Institutional investors and hedge funds own 5.09% of the company’s stock.

Super Group Stock Performance

The stock has a 50 day moving average of $5.21 and a two-hundred day moving average of $4.06. The firm has a market capitalization of $3.39 billion, a P/E ratio of 112.52 and a beta of 0.95.

Super Group Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be given a $0.15 dividend. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, December 23rd. Super Group’s dividend payout ratio is 166.69%.

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.