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 trading hands.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Super Group (SGHC) in a report on Tuesday, January 27th. Benchmark boosted their price objective on shares of Super Group (SGHC) from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday. 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 research note on Wednesday, November 5th. Wall Street Zen cut Super Group (SGHC) from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 12th. Finally, BTIG Research restated a “buy” rating and set a $19.00 price objective on shares of Super Group (SGHC) in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Super Group (SGHC) presently has a consensus rating of “Buy” and an average target price of $17.13.

Super Group (SGHC) Stock Up 6.0%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50 day simple moving average of $10.32 and a two-hundred day simple moving average of $11.47. The stock has a market cap of $5.19 billion, a P/E ratio of 23.85 and a beta of 1.08.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its position in 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 purchasing an additional 1,396 shares during the period. CIBC Private Wealth Group LLC bought a new position in Super Group (SGHC) during the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. grew its holdings in 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 acquiring an additional 2,716 shares during the period. Greenwich Wealth Management LLC bought a new stake in Super Group (SGHC) in the second quarter worth about $112,000. Finally, Scotia Capital Inc. acquired a new stake in Super Group (SGHC) in the 2nd quarter valued at about $113,000. Institutional investors and hedge funds own 5.09% of the company’s stock.

About Super Group (SGHC)

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.