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

Super Group Limited (NYSE:SGHC - Get Free Report) 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

A number of equities analysts have commented on the stock. BTIG Research assumed coverage on shares of Super Group in a research note on Friday, March 28th. They issued a "buy" rating and a $9.00 price objective for the company. Needham & Company LLC increased their target price on Super Group from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Craig Hallum set a $12.00 target price on Super Group in a research note on Monday, May 19th. Benchmark reaffirmed a "buy" rating and issued a $12.00 price target on shares of Super Group in a report on Wednesday, April 16th. Finally, Canaccord Genuity Group raised their price target on shares of Super Group from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $11.50.

Super Group Trading Up 3.5%

The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 149.44 and a beta of 1.01. The stock has a 50-day moving average price of $7.94 and a 200 day moving average price of $7.28.

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

Institutional Investors Weigh In On Super Group

Several institutional investors and hedge funds have recently modified their holdings of SGHC. Rhumbline Advisers boosted its holdings in Super Group by 6.3% during the 1st quarter. Rhumbline Advisers now owns 206,407 shares of the company's stock valued at $1,329,000 after acquiring an additional 12,261 shares during the period. Strs Ohio purchased a new position in shares of Super Group in the first quarter valued at approximately $603,000. Acadian Asset Management LLC grew its holdings in shares of Super Group by 66.7% in the first quarter. Acadian Asset Management LLC now owns 1,148,713 shares of the company's stock valued at $7,379,000 after purchasing an additional 459,485 shares in the last quarter. Jane Street Group LLC purchased a new stake in Super Group during the 1st quarter worth approximately $1,523,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Super Group during the 1st quarter worth approximately $483,000. Hedge funds and other institutional investors own 5.09% of the company's stock.

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.

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