Super Group (SGHC) (NYSE:SGHC) Stock Price Up 6.4% – Here’s Why

Super Group (SGHC) Limited (NYSE:SGHC) was up 6.4% on Tuesday . The company traded as high as $9.53 and last traded at $9.5360. Approximately 779,242 shares traded hands during trading, a decline of 69% from the average daily volume of 2,514,294 shares. The stock had previously closed at $8.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Benchmark lowered their price objective on shares of Super Group (SGHC) from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, November 28th. BTIG Research reissued a “buy” rating and set a $19.00 target price on shares of Super Group (SGHC) in a research note on Friday, January 30th. Wall Street Zen lowered shares of Super Group (SGHC) from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Super Group (SGHC) in a report on Tuesday, January 27th. Finally, Needham & Company LLC raised their price target on Super Group (SGHC) from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $17.00.

Super Group (SGHC) Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.75 and a current ratio of 1.75. The stock’s 50 day moving average price is $10.38 and its 200 day moving average price is $11.47. The company has a market capitalization of $4.78 billion, a P/E ratio of 22.11 and a beta of 1.08.

Super Group (SGHC) Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Monday, February 9th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 2nd. Super Group (SGHC)’s dividend payout ratio is presently 37.21%.

Hedge Funds Weigh In On Super Group (SGHC)

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Super Group (SGHC) by 7.9% in the second quarter. Geode Capital Management LLC now owns 1,888,540 shares of the company’s stock worth $20,717,000 after buying an additional 138,065 shares in the last quarter. Legal & General Group Plc increased its position in shares of Super Group (SGHC) by 841.4% during the second quarter. Legal & General Group Plc now owns 295,755 shares of the company’s stock valued at $3,243,000 after buying an additional 264,339 shares during the period. Squarepoint Ops LLC lifted its holdings in Super Group (SGHC) by 321.6% in the second quarter. Squarepoint Ops LLC now owns 625,421 shares of the company’s stock worth $6,861,000 after buying an additional 477,084 shares during the period. Acadian Asset Management LLC boosted its position in Super Group (SGHC) by 58.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,816,284 shares of the company’s stock valued at $19,902,000 after acquiring an additional 667,571 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Super Group (SGHC) during the 2nd quarter valued at approximately $325,000. Institutional investors own 5.09% of the company’s stock.

About Super Group (SGHC)

Super Group (NYSE: SGHC) is a global sports betting and iGaming operator that offers online wagering and gaming solutions under well-known brands such as Betway and Spin. The company’s technology platform supports fixed-odds and in-play sports betting, virtual sports, eSports wagering and a diverse suite of casino games, including slots, table games and live dealer experiences. Super Group’s digital infrastructure is designed to deliver a seamless, secure user experience across desktop and mobile devices.

The company holds operating licenses in multiple regulated jurisdictions, including the United Kingdom, Malta, Italy, Spain and selected states in the United States.