Super Group (NYSE:SGHC) Shares Gap Down – What’s Next?

Super Group Limited (NYSE:SGHC) gapped down prior to trading on Monday . The stock had previously closed at $6.65, but opened at $6.42. Super Group shares last traded at $6.47, with a volume of 192,761 shares.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer upgraded shares of 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. Needham & Company LLC boosted their price objective on shares of Super Group from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Benchmark increased their price target on Super Group from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Super Group Stock Performance

The firm has a market cap of $3.32 billion, a PE ratio of 111.27 and a beta of 0.95. The stock has a 50 day simple moving average of $4.69 and a two-hundred day simple moving average of $3.89.

Hedge Funds Weigh In On Super Group

A number of hedge funds have recently modified their holdings of SGHC. Caprock Group LLC increased its position in shares of Super Group by 2.8% in the 3rd quarter. Caprock Group LLC now owns 71,933 shares of the company’s stock valued at $261,000 after purchasing an additional 1,959 shares during the last quarter. HighTower Advisors LLC grew its position in Super Group by 22.7% during the 3rd quarter. HighTower Advisors LLC now owns 21,576 shares of the company’s stock worth $78,000 after purchasing an additional 3,993 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Super Group by 13.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,112 shares of the company’s stock valued at $135,000 after purchasing an additional 4,715 shares during the period. The Manufacturers Life Insurance Company increased its stake in Super Group by 10.1% in the second quarter. The Manufacturers Life Insurance Company now owns 54,572 shares of the company’s stock valued at $176,000 after purchasing an additional 5,005 shares during the period. Finally, Algert Global LLC raised its holdings in shares of Super Group by 54.5% in the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock valued at $61,000 after buying an additional 6,711 shares during the last quarter. 5.09% of the stock is currently 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.