Super Group (SGHC) (NYSE:SGHC) Shares Gap Up Following Dividend Announcement

Super Group (SGHC) Limited (NYSE:SGHC)’s stock price gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $9.72, but opened at $11.20. Super Group (SGHC) shares last traded at $10.5940, with a volume of 1,885,798 shares changing hands.

The newly announced dividend which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.9%. This is a positive change from Super Group (SGHC)’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Monday, March 16th. Super Group (SGHC)’s dividend payout ratio (DPR) is currently 37.21%.

Analysts Set New Price Targets

SGHC has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Super Group (SGHC) in a report on Tuesday, January 27th. Needham & Company LLC lifted their target price on Super Group (SGHC) from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Macquarie Infrastructure restated an “outperform” rating and set a $19.00 price target on shares of Super Group (SGHC) in a research note on Wednesday, November 5th. Benchmark raised their price objective on Super Group (SGHC) from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, BTIG Research reiterated a “buy” rating and set a $19.00 target price on shares of Super Group (SGHC) in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Super Group (SGHC) currently has an average rating of “Buy” and a consensus target price of $17.13.

Super Group (SGHC) Stock Up 6.0%

The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 23.85 and a beta of 1.08. The firm has a 50-day moving average of $10.32 and a 200 day moving average of $11.47. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On Super Group (SGHC)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in shares of Super Group (SGHC) by 132.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,453 shares of the company’s stock worth $27,000 after acquiring an additional 1,396 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Super Group (SGHC) during the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. grew its position in shares of Super Group (SGHC) by 67,900.0% during the third quarter. SBI Securities Co. Ltd. now owns 2,720 shares of the company’s stock worth $36,000 after buying an additional 2,716 shares in the last quarter. Greenwich Wealth Management LLC bought a new stake in shares of Super Group (SGHC) in the second quarter worth $112,000. Finally, Scotia Capital Inc. bought a new position in Super Group (SGHC) during the 2nd quarter valued at $113,000. 5.09% of the stock is owned by hedge funds and other institutional investors.

Super Group (SGHC) Company Profile

Super Group (NYSE: SGHC) is a global sports betting and iGaming operator that offers online wagering and gaming solutions under well-known brands such as Betway and Spin. The company’s technology platform supports fixed-odds and in-play sports betting, virtual sports, eSports wagering and a diverse suite of casino games, including slots, table games and live dealer experiences. Super Group’s digital infrastructure is designed to deliver a seamless, secure user experience across desktop and mobile devices.

The company holds operating licenses in multiple regulated jurisdictions, including the United Kingdom, Malta, Italy, Spain and selected states in the United States.