Super Group (NYSE:SGHC) Shares Down 3.1% – Here’s Why

Super Group Limited (NYSE:SGHC) was down 3.1% on Friday . The company traded as low as $8.38 and last traded at $8.38. Approximately 359,748 shares traded hands during trading, a decline of 45% from the average daily volume of 648,659 shares. The stock had previously closed at $8.65.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Super Group in a report on Wednesday, April 16th. Canaccord Genuity Group boosted their price target on Super Group from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 12th. Oppenheimer raised their price objective on shares of Super Group from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Needham & Company LLC lifted their target price on shares of Super Group from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday. Finally, BTIG Research initiated coverage on shares of Super Group in a research note on Friday, March 28th. They issued a “buy” rating and a $9.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Super Group currently has a consensus rating of “Buy” and an average target price of $11.40.

Super Group Price Performance

The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 139.64 and a beta of 1.01. The firm has a fifty day simple moving average of $7.43 and a 200 day simple moving average of $6.94.

Super Group (NYSE:SGHC) last announced its earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $495.96 million for the quarter, compared to analyst estimates of $423.91 million. Super Group had a return on equity of 15.40% and a net margin of 2.25%. Research analysts predict that Super Group Limited will post 0.29 EPS for the current year.

Super Group Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $0.04 dividend. The ex-dividend date was Monday, March 10th. This represents a dividend yield of 3.6%. Super Group’s dividend payout ratio (DPR) is 59.26%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in Super Group by 127.2% in the 1st quarter. Millennium Management LLC now owns 2,737,329 shares of the company’s stock worth $17,628,000 after buying an additional 1,532,666 shares during the last quarter. Helikon Investments Ltd lifted its position in shares of Super Group by 82.5% in the fourth quarter. Helikon Investments Ltd now owns 3,234,022 shares of the company’s stock valued at $20,148,000 after acquiring an additional 1,462,418 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Super Group by 500.9% in the fourth quarter. Invesco Ltd. now owns 1,493,783 shares of the company’s stock worth $9,306,000 after acquiring an additional 1,245,185 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Super Group by 360.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,301,153 shares of the company’s stock worth $8,106,000 after purchasing an additional 1,018,664 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Super Group by 332.8% during the fourth quarter. JPMorgan Chase & Co. now owns 981,950 shares of the company’s stock worth $6,118,000 after purchasing an additional 755,044 shares in the last quarter. Institutional investors and hedge funds own 5.09% of the company’s stock.

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.