Super Group (NYSE:SGHC) Shares Gap Down – Should You Sell?

Super Group Limited (NYSE:SGHC)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $8.30, but opened at $8.10. Super Group shares last traded at $8.29, with a volume of 264,841 shares changing hands.

Wall Street Analyst Weigh In

SGHC has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $10.00 target price on shares of Super Group in a report on Monday, January 27th. Canaccord Genuity Group upgraded Super Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $5.00 to $10.00 in a research note on Friday, January 24th. Oppenheimer increased their price target on Super Group from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Super Group in a report on Wednesday, January 22nd.

Super Group Stock Down 0.5 %

The firm has a market cap of $4.11 billion, a P/E ratio of 137.69 and a beta of 0.99. The company’s 50 day simple moving average is $6.70 and its 200-day simple moving average is $4.97.

Super Group Dividend Announcement

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

Hedge Funds Weigh In On Super Group

A number of institutional investors have recently modified their holdings of SGHC. Walleye Capital LLC purchased a new position in Super Group during the third quarter valued at approximately $54,000. Algert Global LLC lifted its stake 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. Intech Investment Management LLC acquired a new stake in shares of Super Group during the third quarter worth $66,000. Burns Matteson Capital Management LLC acquired a new stake in shares of Super Group during the third quarter worth $70,000. Finally, DGS Capital Management LLC acquired a new stake in shares of Super Group during the fourth quarter worth $73,000. 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.