Super Group (NYSE:SGHC) Sets New 12-Month High – Here’s What Happened

Super Group Limited (NYSE:SGHC) hit a new 52-week high during trading on Wednesday . The stock traded as high as $8.44 and last traded at $8.41, with a volume of 205555 shares traded. The stock had previously closed at $8.30.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SGHC shares. Canaccord Genuity Group upgraded shares of Super Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $5.00 to $10.00 in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Super Group in a research report on Wednesday, January 22nd. Benchmark reissued a “buy” rating and set a $10.00 target price on shares of Super Group in a research report on Monday, January 27th. Finally, Oppenheimer upped their price target on Super Group from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th.

Super Group Stock Up 0.7 %

The stock has a fifty day simple moving average of $6.64 and a 200-day simple moving average of $4.92. The company has a market capitalization of $4.16 billion, a P/E ratio of 139.27 and a beta of 0.99.

Super Group Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SGHC. Walleye Capital LLC bought a new position in Super Group in the 3rd quarter valued at $54,000. Algert Global LLC lifted its position in Super Group by 54.5% during the 2nd quarter. Algert Global LLC now owns 19,036 shares of the company’s stock worth $61,000 after buying an additional 6,711 shares in the last quarter. Intech Investment Management LLC bought a new stake in Super Group during the 3rd quarter worth about $66,000. Burns Matteson Capital Management LLC acquired a new stake in Super Group in the 3rd quarter valued at about $70,000. Finally, DGS Capital Management LLC acquired a new stake in Super Group in the 4th quarter valued at about $73,000. 5.09% of the stock is owned by institutional investors and hedge funds.

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.