Super Group (SGHC) (NYSE:SGHC) Sees Large Volume Increase – Still a Buy?

Super Group (SGHC) Limited (NYSE:SGHC) shares saw strong trading volume on Friday . 885,560 shares traded hands during trading, a decline of 21% from the previous session’s volume of 1,123,045 shares.The stock last traded at $12.02 and had previously closed at $11.64.

Analyst Ratings Changes

Several equities analysts have weighed in on SGHC shares. Citizens Jmp started coverage on Super Group (SGHC) in a research note on Monday, July 14th. They issued a “strong-buy” rating and a $15.00 target price on the stock. BTIG Research reaffirmed a “buy” rating on shares of Super Group (SGHC) in a research report on Tuesday, July 8th. Craig Hallum set a $12.00 price target on Super Group (SGHC) in a research report on Monday, May 19th. Canaccord Genuity Group raised their price target on Super Group (SGHC) from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC raised their price target on Super Group (SGHC) from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $13.88.

Super Group (SGHC) Stock Up 4.3%

The firm has a market capitalization of $6.11 billion, a P/E ratio of 44.94 and a beta of 1.08. The stock has a fifty day moving average of $11.00 and a 200-day moving average of $8.92.

Super Group (SGHC) Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 23rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 23rd. Super Group (SGHC)’s dividend payout ratio (DPR) is currently 59.26%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in Super Group (SGHC) in the first quarter valued at approximately $526,000. BNP Paribas Financial Markets bought a new position in Super Group (SGHC) in the fourth quarter valued at approximately $369,000. SG Americas Securities LLC grew its stake in Super Group (SGHC) by 105.6% in the first quarter. SG Americas Securities LLC now owns 140,931 shares of the company’s stock valued at $908,000 after purchasing an additional 72,380 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Super Group (SGHC) by 50.6% in the fourth quarter. Nuveen Asset Management LLC now owns 682,462 shares of the company’s stock valued at $4,252,000 after purchasing an additional 229,211 shares in the last quarter. Finally, Fiera Capital Corp bought a new position in Super Group (SGHC) in the first quarter valued at approximately $3,878,000. 5.09% of the stock is currently owned by institutional investors.

Super Group (SGHC) 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.