Super Group (SGHC) (NYSE:SGHC) Sees Large Volume Increase After Dividend Announcement

Shares of Super Group (SGHC) Limited (NYSE:SGHC) saw an uptick in trading volume on Wednesday following a dividend announcement from the company. 5,629,681 shares traded hands during mid-day trading, an increase of 332% from the previous session’s volume of 1,301,798 shares.The stock last traded at $13.02 and had previously closed at $13.15.

The newly announced dividend which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 18th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. Super Group (SGHC)’s payout ratio is presently 59.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SGHC. Needham & Company LLC boosted their target price on shares of Super Group (SGHC) from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. JMP Securities initiated coverage on shares of Super Group (SGHC) in a research report on Monday, July 14th. They set a “market outperform” rating and a $15.00 target price for the company. BTIG Research reaffirmed a “buy” rating on shares of Super Group (SGHC) in a research report on Tuesday, July 8th. Citigroup initiated coverage on shares of Super Group (SGHC) in a research report on Monday, July 14th. They issued an “outperform” rating for the company. Finally, Wall Street Zen downgraded shares of Super Group (SGHC) from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $13.88.

Super Group (SGHC) Trading Down 0.2%

The stock’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $9.29. The stock has a market capitalization of $6.52 billion, a P/E ratio of 48.00 and a beta of 1.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SGHC. Quarry LP grew its position in shares of Super Group (SGHC) by 364.3% during the 1st quarter. Quarry LP now owns 3,988 shares of the company’s stock valued at $26,000 after acquiring an additional 3,129 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Super Group (SGHC) by 132.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,453 shares of the company’s stock valued at $27,000 after buying an additional 1,396 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Super Group (SGHC) by 4,606.6% during the 1st quarter. GAMMA Investing LLC now owns 4,283 shares of the company’s stock valued at $28,000 after buying an additional 4,192 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Super Group (SGHC) by 56.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,600 shares of the company’s stock valued at $30,000 after buying an additional 1,662 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Super Group (SGHC) by 95.9% during the 1st quarter. Signaturefd LLC now owns 5,439 shares of the company’s stock valued at $35,000 after buying an additional 2,662 shares in the last quarter. 5.09% of the stock is owned by institutional investors.

About Super Group (SGHC)

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.