Super Group (NYSE:SGHC) Sets New 1-Year High – Still a Buy?

Shares of Super Group Limited (NYSE:SGHC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.98 and last traded at $6.92, with a volume of 54540 shares. The stock had previously closed at $6.94.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Needham & Company LLC lifted their price target on Super Group from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Oppenheimer upgraded Super Group from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a research report on Thursday, November 7th. Finally, Benchmark boosted their price objective on shares of Super Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Super Group Price Performance

The company has a market cap of $3.39 billion, a price-to-earnings ratio of 113.19 and a beta of 0.94. The firm’s 50-day moving average price is $4.69 and its 200-day moving average price is $3.89.

Institutional Trading of Super Group

Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Super Group by 8.5% in the third quarter. State Street Corp now owns 2,490,833 shares of the company’s stock worth $9,042,000 after buying an additional 194,460 shares during the last quarter. Helikon Investments Ltd acquired a new position in Super Group in the third quarter worth $6,431,000. Geode Capital Management LLC raised its holdings in shares of Super Group by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,742,924 shares of the company’s stock worth $6,327,000 after purchasing an additional 14,507 shares during the period. American Century Companies Inc. boosted its holdings in shares of Super Group by 6,842.6% in the 2nd quarter. American Century Companies Inc. now owns 973,290 shares of the company’s stock valued at $3,144,000 after buying an additional 959,271 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Super Group by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 859,109 shares of the company’s stock valued at $2,964,000 after buying an additional 61,937 shares during the last quarter. 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.