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 trading hands.

A number of other analysts have also weighed in on SGHC. Benchmark upped their price target on shares of Super Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their target price on Super Group from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday.

Institutional Investors Weigh In On Super Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Walleye Capital LLC acquired a new stake in shares of Super Group during the 3rd quarter valued at $54,000. Algert Global LLC raised its position in shares of Super Group by 54.5% during the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock worth $61,000 after purchasing an additional 6,711 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Super Group during the third quarter valued at $66,000. Burns Matteson Capital Management LLC purchased a new stake in shares of Super Group during the third quarter valued at $70,000. Finally, AQR Capital Management LLC acquired a new position in shares of Super Group in the 2nd quarter valued at $77,000. 5.09% of the stock is currently owned by institutional investors.

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 stock has a market cap of $3.39 billion, a PE ratio of 112.52 and a beta of 0.95.

Super Group Dividend Announcement

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