Super Group (NYSE:SGHC) Sees Strong Trading Volume - Here's Why

Super Group Limited (NYSE:SGHC - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 1,290,260 shares changed hands during mid-day trading, an increase of 93% from the previous session's volume of 669,610 shares.The stock last traded at $9.00 and had previously closed at $8.67.

Analyst Ratings Changes

SGHC has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Super Group from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Benchmark restated a "buy" rating and issued a $12.00 price objective on shares of Super Group in a research report on Wednesday, April 16th. Needham & Company LLC raised their target price on Super Group from $10.00 to $11.00 and gave the company a "buy" rating in a report on Thursday, May 15th. BTIG Research started coverage on Super Group in a report on Friday, March 28th. They issued a "buy" rating and a $9.00 target price for the company. Finally, Craig Hallum set a $12.00 target price on Super Group in a report on Monday, May 19th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Super Group presently has a consensus rating of "Buy" and a consensus price target of $11.50.

Super Group Trading Up 0.2%

The company has a 50 day moving average price of $8.04 and a 200 day moving average price of $7.34. The firm has a market cap of $4.65 billion, a PE ratio of 153.94 and a beta of 1.01.

Super Group (NYSE:SGHC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $495.96 million for the quarter, compared to analyst estimates of $423.91 million. Super Group had a return on equity of 15.40% and a net margin of 2.25%. As a group, equities research analysts anticipate that Super Group Limited will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Super Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Super Group by 6.3% in the 1st quarter. Rhumbline Advisers now owns 206,407 shares of the company's stock worth $1,329,000 after buying an additional 12,261 shares in the last quarter. Strs Ohio purchased a new stake in shares of Super Group in the 1st quarter worth about $603,000. Acadian Asset Management LLC boosted its position in shares of Super Group by 66.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,148,713 shares of the company's stock worth $7,379,000 after buying an additional 459,485 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Super Group during the 1st quarter worth approximately $1,523,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Super Group during the 1st quarter worth approximately $483,000. 5.09% of the stock is currently owned by hedge funds and other institutional investors.

Super Group Company Profile

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.