Super Group (NYSE:SGHC) Shares Gap Down – What’s Next?

Shares of Super Group Limited (NYSE:SGHC) gapped down before the market opened on Monday . The stock had previously closed at $6.65, but opened at $6.42. Super Group shares last traded at $6.47, with a volume of 192,761 shares traded.

Wall Street Analysts Forecast Growth

SGHC has been the topic of a number of research analyst reports. Benchmark increased 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. Needham & Company LLC raised their price objective on Super Group from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Oppenheimer raised shares of Super Group from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a report on Thursday, November 7th.

Super Group Stock Performance

The business has a fifty day moving average of $4.63 and a 200-day moving average of $3.87. The firm has a market capitalization of $3.35 billion, a P/E ratio of 110.83 and a beta of 0.67.

Institutional Trading of Super Group

Several institutional investors have recently modified their holdings of SGHC. Walleye Capital LLC purchased a new stake in shares of Super Group in the 3rd quarter valued at approximately $54,000. Algert Global LLC lifted its holdings in shares of Super Group by 54.5% in the second quarter. Algert Global LLC now owns 19,036 shares of the company’s stock valued at $61,000 after purchasing an additional 6,711 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Super Group in the third quarter worth $66,000. Burns Matteson Capital Management LLC acquired a new stake in shares of Super Group in the third quarter worth $70,000. Finally, AQR Capital Management LLC acquired a new position in Super Group during the second quarter valued at $77,000. Institutional investors and hedge funds 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.