Super Group (NYSE:SGHC) Shares Gap Down - Should You Sell?

Super Group Limited (NYSE:SGHC) experienced a gap down in its share price as the market opened on Friday. The stock, which had closed at $8.30 the previous day, opened lower at $8.10. As of the last trade, Super Group shares were at $8.29, with a trading volume of 264,841 shares.

Recent Analyst Ratings

Super Group has been a focal point for several analyst reviews lately. On January 27, Benchmark reaffirmed a "buy" rating with a target price of $10.00 in their research note. Oppenheimer later raised their target price for Super Group from $9.00 to $11.00, also rating the stock as "outperform" in their report dated January 29. Needham & Company LLC maintained a "buy" rating, setting a price target of $9.00 in a report released on January 22. Additionally, Canaccord Genuity upgraded Super Group from a "hold" to a "buy" rating, increasing their target price from $5.00 to $10.00 in their analysis on January 24.

Share Performance of Super Group

The company's 50-day moving average is $6.70, while its 200-day moving average stands at $4.97. Super Group currently holds a market capitalization of approximately $4.11 billion, with a P/E ratio of 137.69 and a beta of 0.99, indicating a level of volatility around the market average.

Dividend Announcement by Super Group

Recently, Super Group declared a dividend which was paid on January 8. Shareholders registered by December 23 received a dividend of $0.15 per share, equating to a dividend yield of 5.7%. The ex-dividend date was December 23, and it's noteworthy that Super Group’s dividend payout ratio is currently 166.69%, suggesting the company pays out more in dividends than it earns in profits.

Institutional Investment Activities

Several hedge funds and institutional investors have changed their positions regarding Super Group lately. Barclays PLC increased their stake by 141.1% during the third quarter and now owns 269,435 shares valued at $978,000 following an acquisition of 157,693 shares. JPMorgan Chase & Co. also raised their holdings by 106.0% in the same quarter, now holding 226,906 shares valued at $824,000 after purchasing 116,740 additional shares. Moreover, State Street Corp. boosted its stake by 8.5%, bringing their total to 2,490,833 shares worth $9,042,000 after acquiring 194,460 shares. GSA Capital Partners LLP expanded their holdings by 133.3% during the third quarter, and Helikon Investments Ltd took a new position in Super Group during this period, valued at $6,431,000. Essentially, institutional investors own approximately 5.09% of the company's stock.

Company Overview: Super Group

Super Group (SGHC) Limited operates primarily as an online operator in the sports betting and gaming industry. The company features Betway, a well-known online sports betting brand, and Spin, which serves as a multi-brand online casino. The firm is based in Saint Peter Port, Guernsey.

Should You Consider Investing?

Considering the current market activities and analyst positions may be beneficial before making any investment decisions regarding Super Group. While the stock holds a "Buy" rating among analysts, various other investment opportunities may prove to be more appealing based on current market analyses.

SuperGroup, Stocks, Investment