{"id":279306,"date":"2023-06-27T18:19:40","date_gmt":"2023-06-27T23:19:40","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=279306"},"modified":"2023-06-28T10:55:07","modified_gmt":"2023-06-28T15:55:07","slug":"super-group-stock-is-now-a-member-of-russell-2000-index","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/","title":{"rendered":"Super Group Stock Enters Russell 2000 Index"},"content":{"rendered":"

Super Group (NYSE: SGHC) stock has been added to the Russell 2000 Index as part of the annual, broader rebalancing of FTSE Russell equity gauges.<\/p>\n

\"Super
Executives from Super Group ring the bell at the New York Stock Exchange. The company’s stock was added to the Russell 2000 Index. (Image: The Global Herald<\/em>)<\/figcaption><\/figure>\n

The Russell 2000 is one of the world\u2019s most widely followed small-cap indexes. Small-cap stocks are generally defined as those with market values of $250 million to $2 billion. Super Group fits that bill, as it closed Tuesday with a market capitalization of $1.41 billion.<\/p>\n

We are excited to join the Russell 2000 Index,\u201c<\/strong> said Super Group CEO Neal Menash in a statement. \u201cWe believe that this milestone as a public company will enhance our profile with investors as we work towards optimizing our global footprint in the online sports betting and gaming industries while maintaining our profitability.\u201d<\/strong><\/p><\/blockquote>\n

As a result of its addition to the Russell 2000, Super Group stock was also added to the broader Russell 3000 Index. The sportsbook operator didn\u2019t say if it\u2019s also being included in the Russell 2000 Growth or Value gauges.<\/p>\n

\u00a0Stock Waiting on Russell 2000 Benefits<\/h2>\n

In many cases, stocks rally on news of inclusion into widely followed indexes,<\/a> because active managers and passive funds that follow those benchmarks need to buy the newly added equities.<\/p>\n

\n

As of yet, Super Group hasn\u2019t enjoyed such a bump. In fact, shares of the Betway parent are lower by 27.71% over the past week. That includes a 20.68% slide on Monday, the day the gaming company revealed it\u2019s joining the Russell 2000. The stock closed at $2.87 on Tuesday, at barely more than half its 52-week high of $5.67.<\/p>\n<\/div>\n

Super Group is more than a year removed from its debut as a public firm following a merger<\/a> with a special purpose acquisition company (SPAC). With shares of so many deSPACed companies faltering, including several in the gaming industry<\/a>, Super Group hasn\u2019t been immune to that trend. The stock has shed more than 36% over the past 12 months.<\/p>\n

Investors punished the stock as the company struggled to gain adequate market share in the fiercely competitive US sports wagering arena.<\/p>\n

Wall Street Mixed on Super Group Stock<\/h2>\n

Currently, four analysts cover Super Group, with one rating it a \u201cbuy” and the other three calling it a \u201chold.\u201d There\u2019s more enthusiasm on the price target side, as the consensus forecast is $5, or 74.22% above Tuesday\u2019s closing. But that could be a symptom of analysts being late to cut that forecast as the stock slumps.<\/p>\n

Super Group isn\u2019t richly valued. But some analysts aren\u2019t overly enthusiastic about the company\u2019s near-term growth prospects, indicating a lofty multiple may not be warranted. The firm also controls iGaming entity Spin.<\/strong><\/p>\n

\u201cThe group is licensed in multiple jurisdictions, with leading positions in key markets throughout Europe, the Americas, and Africa,\u201d according to the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Super Group (NYSE: SGHC) stock has been added to the Russell 2000 Index as part of the annual, broader rebalancing of FTSE Russell equity gauges. The Russell 2000 is one of the world\u2019s most widely followed small-cap indexes. Small-cap stocks are generally defined as those with market values of $250 million to $2 billion. Super […]<\/p>\n","protected":false},"author":46,"featured_media":202540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[81903,80968],"acf":[],"yoast_head":"\nSuper Group Stock Is Now A Member Of Russell 2000 Index<\/title>\n<meta name=\"description\" content=\"Super Group stock makes it way into small-cap Russell 2000 Index.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Super Group Stock Is Now A Member Of Russell 2000 Index\" \/>\n<meta property=\"og:description\" content=\"Super Group stock makes it way into small-cap Russell 2000 Index.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-27T23:19:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-28T15:55:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/SGHC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/\",\"url\":\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/\",\"name\":\"Super Group Stock Is Now A Member Of Russell 2000 Index\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/SGHC.jpg\",\"datePublished\":\"2023-06-27T23:19:40+00:00\",\"dateModified\":\"2023-06-28T15:55:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Super Group stock makes it way into small-cap Russell 2000 Index.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/super-group-stock-is-now-a-member-of-russell-2000-index\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/SGHC.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/SGHC.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Executives from Super Group ring the bell at the New York Stock Exchange. 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