Super Group (SGHC) (NYSE:SGHC) Stock Bumped Down to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded Super Group to “Hold” from “Buy,” though the broader analyst consensus remains “Moderate Buy,” with six Buy ratings, two Holds and an average price target of $19.
• Super Group shares opened at $11.32, below the consensus target, with a market capitalization of $5.72 billion; the stock has traded between $8.46 and $15.86 over the past year.
• The company exceeded quarterly revenue expectations with $684 million but narrowly missed EPS estimates, reporting $0.22 versus $0.23 expected. Insiders sold approximately $2.64 million of stock during the quarter.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Citigroup reissued an "outperform" rating on shares of Super Group (SGHC) in a report on Wednesday, July 8th. Benchmark lifted their price target on shares of Super Group (SGHC) from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Needham & Company LLC boosted their price objective on shares of Super Group (SGHC) from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings downgraded Super Group (SGHC) from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, September 24th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $19.00 price objective on shares of Super Group (SGHC) in a report on Monday, August 31st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Super Group (SGHC) has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Super Group (SGHC) Price Performance

Shares of SGHC opened at $11.32 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.02. The stock has a market cap of $5.72 billion, a PE ratio of 15.65 and a beta of 1.10. Super Group has a 12-month low of $8.46 and a 12-month high of $15.86. The business has a 50-day simple moving average of $12.93 and a two-hundred day simple moving average of $12.99.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). Super Group (SGHC) had a net margin of 15.22% and a return on equity of 47.37%. The firm had revenue of $684.00 million for the quarter, compared to analyst estimates of $659.90 million. Analysts anticipate that Super Group will post 0.80 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Wyk Van sold 22,644 shares of Super Group (SGHC) stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $13.97, for a total value of $316,336.68. Following the completion of the transaction, the chief financial officer directly owned 27,566 shares of the company's stock, valued at approximately $385,097.02. This trade represents a 45.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 dated Monday, September 14th. The shares were sold at an average price of $13.79, for a total value of $321,307.00. Following the completion of the transaction, the chief technology officer directly owned 7,814 shares in the company, valued at $107,755.06. This represents a 74.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 188,935 shares of company stock valued at $2,636,428. Insiders own 10.41% of the company's stock.

Institutional Trading of Super Group (SGHC)

Hedge funds have recently modified their holdings of the stock. Independent Financial Group LLC bought a new position in Super Group (SGHC) in the first quarter worth approximately $114,000. Baron Wealth Management LLC bought a new position in Super Group (SGHC) during the 2nd quarter valued at $158,000. PNC Financial Services Group Inc. lifted its stake in Super Group (SGHC) by 12.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,012 shares of the company's stock valued at $141,000 after acquiring an additional 1,418 shares in the last quarter. Baer Investment Advisory LLC purchased a new position in Super Group (SGHC) during the 1st quarter worth $233,000. Finally, GM Advisory Group LLC bought a new stake in shares of Super Group (SGHC) in the 1st quarter worth $271,000. Institutional investors own 5.09% of the company's stock.

Super Group (SGHC) Company Profile

Super Group (SGHC) Limited is a global online sports betting and gaming company. Its principal brands include Betway, an online sportsbook and casino operator, and Spin, an online casino and gaming platform. Through these brands, the company offers sports wagering, casino games, live dealer products, poker and related digital entertainment services, subject to local regulations.

Super Group serves customers across multiple international markets, with operations and licenses spanning regions including Europe, Africa, the Americas and other parts of the world.

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