Super Group (SGHC) (NYSE:SGHC – Get Free Report) had its target price increased by equities research analysts at Needham & Company LLC from $17.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 37.56% from the company’s current price.
Several other research firms have also recently weighed in on SGHC. Benchmark increased their price target on Super Group (SGHC) from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings upgraded Super Group (SGHC) from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. BTIG Research increased their target price on Super Group (SGHC) from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 17th. Citizens Jmp raised their target price on Super Group (SGHC) from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 8th. Finally, Zacks Research downgraded Super Group (SGHC) from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.71.
Read Our Latest Research Report on Super Group (SGHC)
Super Group (SGHC) Stock Performance
Super Group (SGHC) (NYSE:SGHC – Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Super Group (SGHC) had a return on equity of 48.54% and a net margin of 15.22%.The company had revenue of $684.00 million during the quarter, compared to analysts’ expectations of $659.90 million. As a group, equities research analysts expect that Super Group will post 0.8 earnings per share for the current year.
Insider Activity at Super Group (SGHC)
In related news, CEO Neal Menashe sold 48,440 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $13.97, for a total value of $676,706.80. Following the completion of the sale, the chief executive officer directly owned 730,733 shares of the company’s stock, valued at approximately $10,208,340.01. This represents a 6.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kirsty Farrah Ross sold 54,551 shares of Super Group (SGHC) stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $13.97, for a total transaction of $762,077.47. Following the transaction, the chief operating officer directly owned 88,261 shares in the company, valued at $1,233,006.17. This represents a 38.20% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 229,836 shares of company stock worth $3,164,926. 10.41% of the stock is owned by company insiders.
Institutional Investors Weigh In On Super Group (SGHC)
Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. lifted its stake in Super Group (SGHC) by 324.3% in the 4th quarter. Invesco Ltd. now owns 4,671,798 shares of the company’s stock worth $55,828,000 after purchasing an additional 3,570,825 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Super Group (SGHC) by 4.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,639,678 shares of the company’s stock worth $55,444,000 after acquiring an additional 202,144 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Super Group (SGHC) by 127.2% during the 1st quarter. Millennium Management LLC now owns 2,737,329 shares of the company’s stock worth $17,628,000 after acquiring an additional 1,532,666 shares in the last quarter. Norges Bank purchased a new position in shares of Super Group (SGHC) in the fourth quarter valued at $23,791,000. Finally, Vanguard Group Inc. raised its stake in Super Group (SGHC) by 8.3% during the third quarter. Vanguard Group Inc. now owns 1,988,987 shares of the company’s stock valued at $26,255,000 after purchasing an additional 152,362 shares in the last quarter. Institutional investors own 5.09% of the company’s stock.
About Super Group (SGHC)
Super Group (NYSE: SGHC) is a global sports betting and iGaming operator that offers online wagering and gaming solutions under well-known brands such as Betway and Spin. The company’s technology platform supports fixed-odds and in-play sports betting, virtual sports, eSports wagering and a diverse suite of casino games, including slots, table games and live dealer experiences. Super Group’s digital infrastructure is designed to deliver a seamless, secure user experience across desktop and mobile devices.
The company holds operating licenses in multiple regulated jurisdictions, including the United Kingdom, Malta, Italy, Spain and selected states in the United States.
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