Super Group (SGHC) (NYSE:SGHC) Coverage Initiated by Analysts at Barclays

Key Points

• Barclays initiated coverage of Super Group with an “equal weight” rating and a $13 price target, implying roughly 19.9% upside from the reported $10.85 share price.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average target price of $18.
• Super Group reported $684 million in quarterly revenue, exceeding expectations, but earnings per share of $0.22 narrowly missed estimates; company insiders have also sold shares primarily to cover tax obligations on vested equity awards.

Stock analysts at Barclays assumed coverage on shares of Super Group (SGHC) (NYSE:SGHC - Get Free Report) in a research note issued to investors on Friday, Marketbeat reports. The firm set an "equal weight" rating and a $13.00 price target on the stock. Barclays's price objective suggests a potential upside of 19.86% from the company's current price.

Several other research analysts have also weighed in on SGHC. BTIG Research upped their target price on shares of Super Group (SGHC) from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Weiss Ratings downgraded shares of Super Group (SGHC) from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, September 24th. Citizens Jmp restated a "market outperform" rating and set a $19.00 price objective on shares of Super Group (SGHC) in a research report on Monday, August 31st. Benchmark increased their target price on Super Group (SGHC) from $19.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen cut Super Group (SGHC) from a "buy" rating to a "hold" rating in a research report on Saturday, October 10th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Super Group (SGHC) Stock Performance

NYSE:SGHC traded down $0.50 during trading hours on Friday, reaching $10.85. 5,306,861 shares of the company's stock were exchanged, compared to its average volume of 2,546,794. Super Group has a 1-year low of $8.46 and a 1-year high of $15.86. 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 firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 15.00 and a beta of 1.10. The company has a 50-day moving average of $12.52 and a 200 day moving average of $13.02.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.22% and a return on equity of 47.37%. The company had revenue of $684.00 million for the quarter, compared to analysts' expectations of $659.90 million. Research analysts anticipate that Super Group will post 0.80 EPS for the current year.

Insider Buying and Selling at Super Group (SGHC)

In other news, CEO Neal Menashe sold 48,440 shares of the company's stock in a transaction dated Friday, July 31st. The stock was 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 owned 730,733 shares of the company's stock, valued at $10,208,340.01. This represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wyk Van sold 22,644 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $13.97, for a total transaction of $316,336.68. Following the completion of the sale, the chief financial officer directly owned 27,566 shares of the company's stock, valued at $385,097.02. This trade represents a 45.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 188,935 shares of company stock worth $2,636,428. Insiders own 10.41% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SGHC. Globeflex Capital L P acquired a new position in shares of Super Group (SGHC) during the 2nd quarter valued at $1,265,000. Prospect Capital Advisors LLC lifted its position 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 worth $11,255,000 after buying an additional 313,100 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Super Group (SGHC) by 579.3% in the 1st quarter. Quantinno Capital Management LP now owns 111,764 shares of the company's stock valued at $1,207,000 after buying an additional 95,311 shares in the last quarter. Anson Funds Management LP lifted its stake in shares of Super Group (SGHC) by 108.3% in the 1st quarter. Anson Funds Management LP now owns 531,214 shares of the company's stock valued at $5,737,000 after purchasing an additional 276,214 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Super Group (SGHC) in the 1st quarter valued at approximately $2,662,000. 5.09% of the stock is currently owned by institutional investors.

Super Group (SGHC) Company Profile

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.