Super Group (SGHC) (NYSE:SGHC) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Super Group from “hold” to “buy. Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $17.20.
• In its latest quarter, Super Group reported EPS of $0.28, beating the $0.19 consensus estimate, while revenue of $611 million came in below the $623.5 million forecast.
• Shares were reported down 1.9%, opening at $11.34; company insiders sold a combined 66,024 shares worth about $910,563 over the prior 90 days.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. Weiss Ratings lowered Super Group (SGHC) from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 24th. Citizens Jmp restated a "market outperform" rating and set a $19.00 target price on shares of Super Group (SGHC) in a report on Monday, August 31st. Benchmark increased their price objective on shares of Super Group (SGHC) from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Barclays initiated coverage on shares of Super Group (SGHC) in a research report on Friday, October 23rd. They set an "equal weight" rating and a $13.00 price objective on the stock. Finally, BTIG Research decreased their price target on shares of Super Group (SGHC) from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $17.20.

Super Group (SGHC) Trading Down 1.9%

Shares of NYSE SGHC opened at $11.34 on Friday. The business has a fifty day moving average price of $12.01 and a 200 day moving average price of $12.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.83. Super Group has a 1-year low of $8.46 and a 1-year high of $15.86. The stock has a market capitalization of $5.74 billion, a P/E ratio of 13.95 and a beta of 1.09.

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

Insiders Place Their Bets

In related news, CTO Alon Ben - David sold 23,300 shares of Super Group (SGHC) stock in a transaction that occurred 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 transaction, the chief technology officer owned 7,814 shares in the company, valued at approximately $107,755.06. This trade represents a 74.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Kirsty Ross sold 2,724 shares of the firm's 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 completion of the transaction, the chief operating officer owned 51,316 shares of the company's stock, valued at approximately $551,133.84. This represents a 5.04% 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. Insiders have sold a total of 66,024 shares of company stock valued at $910,563 over the last ninety days. 10.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Super Group (SGHC)

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew 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 purchasing an additional 733,073 shares during the period. Prospect Capital Advisors LLC grew its position in Super Group (SGHC) by 42.9% during the 1st quarter. Prospect Capital Advisors LLC now owns 1,042,100 shares of the company's stock worth $11,255,000 after purchasing an additional 313,100 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Super Group (SGHC) by 5.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 718,891 shares of the company's stock valued at $8,159,000 after acquiring an additional 39,616 shares during the last quarter. Anson Funds Management LP raised its stake in Super Group (SGHC) by 108.3% during the first quarter. Anson Funds Management LP now owns 531,214 shares of the company's stock worth $5,737,000 after acquiring an additional 276,214 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Super Group (SGHC) by 3.3% in the 1st quarter. Sei Investments Co. now owns 410,386 shares of the company's stock worth $4,432,000 after buying an additional 13,048 shares during the last quarter. Institutional investors and hedge funds own 5.09% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.