Super Group (NYSE:SGHC) Sets New 52-Week High - Here's What Happened

Super Group Limited (NYSE:SGHC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $9.62 and last traded at $9.60, with a volume of 1729173 shares. The stock had previously closed at $9.31.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SGHC. BTIG Research lifted their price objective on Super Group from $9.00 to $11.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Needham & Company LLC upped their price objective on shares of Super Group from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Craig Hallum set a $12.00 target price on shares of Super Group in a report on Monday, May 19th. Canaccord Genuity Group boosted their target price 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. Finally, Benchmark reiterated a "buy" rating and set a $12.00 price target on shares of Super Group in a research report on Wednesday, April 16th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $11.83.

Super Group Stock Performance

The firm's fifty day moving average is $8.36 and its 200-day moving average is $7.45. The company has a market capitalization of $4.96 billion, a P/E ratio of 164.11 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Super Group had a net margin of 2.25% and a return on equity of 15.40%. The company had revenue of $495.96 million during the quarter, compared to the consensus estimate of $423.91 million. As a group, analysts expect that Super Group Limited will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Super Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGHC. BNP Paribas Financial Markets bought a new stake in shares of Super Group in the 4th quarter valued at about $369,000. Nuveen Asset Management LLC increased its position in Super Group by 50.6% during the 4th quarter. Nuveen Asset Management LLC now owns 682,462 shares of the company's stock valued at $4,252,000 after purchasing an additional 229,211 shares during the period. Millennium Management LLC increased its position in Super Group by 66.1% during the 4th quarter. Millennium Management LLC now owns 1,204,663 shares of the company's stock valued at $7,505,000 after purchasing an additional 479,440 shares during the period. Renaissance Technologies LLC raised its holdings in Super Group by 35.7% during the 4th quarter. Renaissance Technologies LLC now owns 134,901 shares of the company's stock worth $840,000 after purchasing an additional 35,500 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Super Group by 360.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,301,153 shares of the company's stock worth $8,106,000 after purchasing an additional 1,018,664 shares during the period. 5.09% of the stock is currently owned by institutional investors and hedge funds.

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.