Super Group (SGHC) (NYSE:SGHC) Upgraded at Zacks Research

Super Group (SGHC) (NYSE:SGHC) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

Other research analysts have also recently issued research reports about the stock. Benchmark lifted their price objective on shares of Super Group (SGHC) from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Citizens Jmp restated a “market outperform” rating and set a $19.00 target price on shares of Super Group (SGHC) in a research report on Monday, August 31st. Needham & Company LLC raised their target price on Super Group (SGHC) from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings lowered Super Group (SGHC) from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Finally, Barclays began coverage on Super Group (SGHC) in a report on Friday, October 23rd. They issued an “equal weight” rating and a $13.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Super Group (SGHC) presently has an average rating of “Moderate Buy” and an average target price of $17.20.

Super Group (SGHC) Stock Performance

Super Group (SGHC) stock traded down $0.22 during mid-day trading on Thursday, hitting $11.34. The company had a trading volume of 2,577,100 shares, compared to its average volume of 2,920,884. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 13.95 and a beta of 1.09. Super Group has a 12-month low of $8.46 and a 12-month high of $15.86. The company’s fifty day moving average is $12.01 and its 200-day moving average is $12.17. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.02.

Super Group (SGHC) (NYSE:SGHC) last posted its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.09. Super Group (SGHC) had a net margin of 15.22% and a return on equity of 47.37%. The firm had revenue of $611.00 million during the quarter, compared to analyst estimates of $623.50 million. Equities research analysts predict that Super Group will post 0.92 EPS for the current year.

Insiders Place Their Bets

In related news, COO Kirsty Ross sold 2,724 shares of Super Group (SGHC) stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $10.74, for a total value of $29,255.76. Following the sale, the chief operating officer owned 51,316 shares of the company’s stock, valued at approximately $551,133.84. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Alon Ben – David sold 23,300 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $13.79, for a total transaction of $321,307.00. Following the completion of the sale, the chief technology officer directly owned 7,814 shares of the company’s stock, valued at approximately $107,755.06. The trade was a 74.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,024 shares of company stock worth $910,563 in the last three months. 10.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Super Group (SGHC)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in shares of Super Group (SGHC) by 12.2% in the first quarter. PNC Financial Services Group Inc. now owns 13,012 shares of the company’s stock valued at $141,000 after purchasing an additional 1,418 shares during the period. Bleakley Financial Group LLC raised its position in shares of Super Group (SGHC) by 8.0% during the 1st quarter. Bleakley Financial Group LLC now owns 27,424 shares of the company’s stock worth $296,000 after purchasing an additional 2,024 shares during the last quarter. Point Nemo Capital LLC raised its position in shares of Super Group (SGHC) by 2.0% during the 3rd quarter. Point Nemo Capital LLC now owns 117,367 shares of the company’s stock worth $1,332,000 after purchasing an additional 2,353 shares during the last quarter. Jacobi Capital Management LLC acquired a new position in shares of Super Group (SGHC) during the 3rd quarter worth about $41,000. Finally, Sterling Capital Management LLC raised its position in shares of Super Group (SGHC) by 840.3% during the 3rd quarter. Sterling Capital Management LLC now owns 5,416 shares of the company’s stock worth $61,000 after purchasing an additional 4,840 shares during the last quarter. 5.09% of the stock is owned by hedge funds and other institutional investors.

About Super Group (SGHC)

Super Group (SGHC) Ltd. is a global online sports betting and gaming company. Its principal brands are Betway, an online sportsbook and casino operator, and Spin, an online casino brand. Through these businesses, Super Group offers sports wagering, casino games, live casino products and related digital gaming services.

The company serves customers across multiple international markets, including regions in Africa, Asia, Europe, North America and South America, subject to local regulatory requirements.