Super Group (NYSE:SGHC) Hits New 1-Year High – Here’s Why

Super Group Limited (NYSE:SGHC)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $5.97 and last traded at $5.91, with a volume of 52791 shares changing hands. The stock had previously closed at $5.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SGHC shares. Needham & Company LLC raised their price objective on shares of Super Group from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Oppenheimer upgraded Super Group from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a research note on Thursday, November 7th. Finally, Benchmark upped their price objective on Super Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Super Group Stock Performance

The firm’s 50-day moving average price is $4.28 and its two-hundred day moving average price is $3.73. The firm has a market cap of $2.96 billion, a PE ratio of 99.00 and a beta of 0.67.

Institutional Investors Weigh In On Super Group

A number of institutional investors and hedge funds have recently bought and sold shares of SGHC. Helikon Investments Ltd purchased a new stake in shares of Super Group in the 3rd quarter valued at about $6,431,000. American Century Companies Inc. grew its position in shares of Super Group by 6,842.6% during the second quarter. American Century Companies Inc. now owns 973,290 shares of the company’s stock worth $3,144,000 after acquiring an additional 959,271 shares during the last quarter. State Street Corp increased its holdings in shares of Super Group by 8.5% in the 3rd quarter. State Street Corp now owns 2,490,833 shares of the company’s stock valued at $9,042,000 after acquiring an additional 194,460 shares during the period. Barclays PLC raised its position in Super Group by 141.1% in the 3rd quarter. Barclays PLC now owns 269,435 shares of the company’s stock valued at $978,000 after purchasing an additional 157,693 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Super Group by 133.3% during the 3rd quarter. GSA Capital Partners LLP now owns 237,778 shares of the company’s stock worth $863,000 after purchasing an additional 135,865 shares during the period. 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.