Super Group (SGHC) (NYSE:SGHC) Price Target Raised to $18.00

Super Group (SGHC) (NYSE:SGHC) had its price target lifted by Needham & Company LLC from $17.00 to $18.00 in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

SGHC has been the subject of several other research reports. Wall Street Zen raised Super Group (SGHC) from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Benchmark raised their target price on shares of Super Group (SGHC) from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research lowered shares of Super Group (SGHC) from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Citigroup reissued an “outperform” rating on shares of Super Group (SGHC) in a research note on Wednesday, July 8th. Finally, BTIG Research increased their price target on shares of Super Group (SGHC) from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Super Group (SGHC) presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

Super Group (SGHC) Price Performance

NYSE:SGHC opened at $13.04 on Thursday. Super Group has a 52-week low of $8.46 and a 52-week high of $15.86. The stock has a fifty day moving average of $14.00 and a 200 day moving average of $12.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 1.83. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 18.04 and a beta of 1.07.

Super Group (SGHC) (NYSE:SGHC) last announced its earnings results on Monday, August 3rd. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates 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 expect that Super Group will post 0.8 EPS for the current fiscal year.

Super Group (SGHC) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. Super Group (SGHC)’s dividend payout ratio is presently 27.78%.

Insiders Place Their Bets

In other news, CEO Neal Menashe sold 48,440 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $13.97, for a total transaction of $676,706.80. Following the transaction, the chief executive officer directly owned 730,733 shares of the company’s stock, valued at approximately $10,208,340.01. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 company’s 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 $762,077.47. Following the transaction, the chief operating officer owned 88,261 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 229,836 shares of company stock worth $3,164,926. 10.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Baron Wealth Management LLC purchased a new stake in shares of Super Group (SGHC) in the 2nd quarter worth about $158,000. Prospect Capital Advisors LLC increased its position in shares of Super Group (SGHC) by 42.9% during 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 during the period. Segall Bryant & Hamill LLC bought a new position in Super Group (SGHC) in the first quarter worth about $2,662,000. Bank of America Corp DE raised its stake in Super Group (SGHC) by 172.5% in the first quarter. Bank of America Corp DE now owns 1,158,102 shares of the company’s stock worth $12,508,000 after buying an additional 733,073 shares in the last quarter. Finally, Anson Funds Management LP lifted its holdings in Super Group (SGHC) by 108.3% in the first quarter. Anson Funds Management LP now owns 531,214 shares of the company’s stock worth $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) Company Profile

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.