Super Group (NYSE:SGHC) Reaches New 52-Week High – Time to Buy?

Super Group Limited (NYSE:SGHC)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $3.99 and last traded at $3.98, with a volume of 189876 shares trading hands. The stock had previously closed at $3.88.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SGHC. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price target on shares of Super Group in a research note on Friday, August 9th. Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Super Group in a research note on Thursday, August 8th.

Super Group Price Performance

The business has a fifty day simple moving average of $3.48 and a 200 day simple moving average of $3.44. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 33.50 and a beta of 0.71.

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

Institutional Investors Weigh In On Super Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in Super Group in the first quarter worth approximately $31,000. Bleakley Financial Group LLC purchased a new position in shares of Super Group during the first quarter worth $47,000. Algert Global LLC boosted its position in shares of Super Group by 54.5% during the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock worth $61,000 after buying an additional 6,711 shares during the period. Burns Matteson Capital Management LLC purchased a new position in shares of Super Group during the third quarter worth $70,000. Finally, AQR Capital Management LLC purchased a new position in shares of Super Group during the second quarter worth $77,000. Institutional investors and hedge funds own 5.09% of the company’s stock.

Super Group 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.