Super Group (SGHC) (NYSE:SGHC) Sets New 52-Week High Following Analyst Upgrade

Shares of Super Group (SGHC) Limited (NYSE:SGHC) hit a new 52-week high on Monday after BTIG Research raised their price target on the stock from $16.00 to $19.00. BTIG Research currently has a buy rating on the stock. Super Group (SGHC) traded as high as $15.75 and last traded at $15.7390, with a volume of 3877765 shares. The stock had previously closed at $14.73.

Other equities analysts have also issued research reports about the stock. Weiss Ratings raised shares of Super Group (SGHC) from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Benchmark lifted their price target on shares of Super Group (SGHC) from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 10th. Citizens Jmp boosted their price objective on shares of Super Group (SGHC) from $17.00 to $19.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 8th. Wall Street Zen raised shares of Super Group (SGHC) from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research downgraded Super Group (SGHC) from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.43.

Insider Buying and Selling

In related news, COO Kirsty Farrah Ross sold 25,356 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $13.00, for a total transaction of $329,628.00. Following the completion of the sale, the chief operating officer owned 27,000 shares of the company’s stock, valued at approximately $351,000. This represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Wyk Alinda Van sold 78,837 shares of Super Group (SGHC) stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $13.70, for a total transaction of $1,080,066.90. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 104,201 shares of company stock valued at $1,409,805. Corporate insiders own 10.41% of the company’s stock.

Institutional Trading of Super Group (SGHC)

A number of institutional investors have recently added to or reduced their stakes in the business. Baron Wealth Management LLC purchased a new position in Super Group (SGHC) in the second quarter valued at about $158,000. Prospect Capital Advisors LLC grew its stake in shares of Super Group (SGHC) by 42.9% in the first 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 in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Super Group (SGHC) in the first quarter valued at about $2,662,000. Bank of America Corp DE raised its holdings in shares of Super Group (SGHC) by 172.5% during the 1st quarter. Bank of America Corp DE now owns 1,158,102 shares of the company’s stock valued at $12,508,000 after buying an additional 733,073 shares during the period. Finally, Anson Funds Management LP raised its holdings in shares of Super Group (SGHC) by 108.3% during the 1st quarter. Anson Funds Management LP now owns 531,214 shares of the company’s stock valued at $5,737,000 after buying an additional 276,214 shares during the period. 5.09% of the stock is owned by hedge funds and other institutional investors.

Super Group (SGHC) Stock Up 0.0%

The firm has a 50-day moving average of $13.79 and a 200 day moving average of $11.79. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 32.27 and a beta of 1.06. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.02.

Super Group (SGHC) (NYSE:SGHC) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Super Group (SGHC) had a net margin of 10.58% and a return on equity of 42.85%. The company had revenue of $612.00 million during the quarter, compared to the consensus estimate of $584.75 million. On average, sell-side analysts anticipate that Super Group will post 0.8 earnings per share for the current year.

Super Group (SGHC) Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, June 23rd. Super Group (SGHC)’s dividend payout ratio is presently 41.67%.

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.