Super Group (SGHC) (NYSE:SGHC) Trading Up 5.8% – Here’s Why

Super Group (SGHC) Limited (NYSE:SGHCGet Free Report)’s share price rose 5.8% during trading on Monday . The stock traded as high as $13.98 and last traded at $14.0790. 1,777,558 shares changed hands during trading, a decline of 41% from the average session volume of 3,014,835 shares. The stock had previously closed at $13.31.

Analysts Set New Price Targets

Several analysts have recently issued reports on SGHC shares. BTIG Research upped their price target on Super Group (SGHC) from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Benchmark upped their target price on Super Group (SGHC) from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Zacks Research downgraded Super Group (SGHC) from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Super Group (SGHC) in a research note on Thursday, August 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Super Group (SGHC) in a report on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.71.

Read Our Latest Stock Analysis on Super Group (SGHC)

Super Group (SGHC) Stock Performance

The stock has a market cap of $7.12 billion, a P/E ratio of 19.46 and a beta of 1.06. The firm has a 50 day moving average of $13.97 and a two-hundred day moving average of $12.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.83 and a current ratio of 1.83.

Super Group (SGHC) (NYSE:SGHCGet Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Super Group (SGHC) had a return on equity of 47.37% and a net margin of 15.22%.The business had revenue of $684.00 million during the quarter, compared to the consensus estimate of $659.90 million. On average, research analysts predict that Super Group will post 0.8 EPS for the current fiscal year.

Super Group (SGHC) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, June 23rd. Super Group (SGHC)’s dividend payout ratio is presently 27.78%.

Insider Buying and Selling at Super Group (SGHC)

In other Super Group (SGHC) news, CEO Neal Menashe sold 48,440 shares of the stock in a transaction 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 $10,208,340.01. This represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $13.97, for a total transaction of $762,077.47. Following the transaction, the chief operating officer owned 88,261 shares in the company, valued at approximately $1,233,006.17. The trade was 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. Insiders sold a total of 150,999 shares of company stock valued at $2,084,859 in the last ninety days. Company insiders own 10.41% of the company’s stock.

Institutional Trading of Super Group (SGHC)

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Super Group (SGHC) by 250.7% during the 2nd quarter. California State Teachers Retirement System now owns 30,244 shares of the company’s stock worth $410,000 after purchasing an additional 21,621 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Super Group (SGHC) in the second quarter valued at $674,000. Globeflex Capital L P bought a new position in Super Group (SGHC) in the second quarter worth $1,265,000. Baron Wealth Management LLC acquired a new stake in Super Group (SGHC) during the second quarter worth $158,000. Finally, Prospect Capital Advisors LLC increased its holdings in Super Group (SGHC) by 42.9% in the 1st quarter. Prospect Capital Advisors LLC now owns 1,042,100 shares of the company’s stock valued at $11,255,000 after buying an additional 313,100 shares during the period. Institutional investors own 5.09% of the company’s stock.

About Super Group (SGHC)

(Get Free Report)

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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