Super Group (NYSE:SGHC) Reaches New 52-Week High – What’s Next?

Super Group Limited (NYSE:SGHC)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $4.71 and last traded at $4.71, with a volume of 7366 shares changing hands. The stock had previously closed at $4.19.

Wall Street Analysts Forecast Growth

SGHC has been the topic of several recent analyst reports. Oppenheimer raised Super Group from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a research note on Thursday. Needham & Company LLC lifted their price objective on Super Group from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Benchmark boosted their target price on Super Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday.

Super Group Stock Performance

The firm has a 50-day moving average price of $3.86 and a 200-day moving average price of $3.57. The stock has a market cap of $2.67 billion, a PE ratio of 89.33 and a beta of 0.67.

Super Group (NYSE:SGHC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Super Group had a return on equity of 12.17% and a net margin of 2.42%. The firm had revenue of $446.44 million during the quarter, compared to analysts’ expectations of $436.89 million. As a group, sell-side analysts anticipate that Super Group Limited will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Super Group in the first quarter valued at about $31,000. Bleakley Financial Group LLC purchased a new stake in shares of Super Group during the 1st quarter valued at about $47,000. Algert Global LLC lifted its stake in shares of Super Group by 54.5% in the 2nd 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. Burns Matteson Capital Management LLC purchased a new position in shares of Super Group in the third quarter worth approximately $70,000. Finally, AQR Capital Management LLC bought a new stake in Super Group during the second quarter valued at approximately $77,000. 5.09% of the stock is owned by hedge funds and other institutional investors.

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.