BTIG Research Increases Super Group (SGHC) (NYSE:SGHC) Price Target to $19.00

Key Points

• BTIG Research raised its price target on Super Group (NYSE: SGHC) to $19 from $16 and kept a buy rating, implying about 29% upside from the prior close.
• Other analysts have also been generally constructive on the stock, with several recent target hikes and rating upgrades leaving SGHC with a Moderate Buy consensus and an average target price of $18.43.
• Super Group recently reported $0.13 EPS on $578 million in quarterly revenue, while insiders sold shares in recent months and institutional investors increased or initiated positions in the company.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) had its price objective raised by equities research analysts at BTIG Research from $16.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target would indicate a potential upside of 29.32% from the stock's previous close.

SGHC has been the subject of a number of other research reports. Weiss Ratings raised Super Group (SGHC) from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Citizens Jmp raised their price target on shares of Super Group (SGHC) from $17.00 to $19.00 and gave the company a "market outperform" rating in a report on Wednesday, July 8th. Wall Street Zen raised shares of Super Group (SGHC) from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Benchmark raised their target price on shares of Super Group (SGHC) from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, Zacks Research lowered shares of Super Group (SGHC) from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.43.

Super Group (SGHC) Stock Performance

Shares of SGHC opened at $14.69 on Friday. Super Group has a 1 year low of $8.46 and a 1 year high of $15.73. The company's 50 day simple moving average is $13.66 and its 200 day simple moving average is $11.71. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 30.42 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 1.61.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last issued its quarterly earnings results on Saturday, April 18th. The company reported $0.13 earnings per share for the quarter. The company had revenue of $578.00 million for the quarter. Super Group (SGHC) had a return on equity of 42.85% and a net margin of 10.58%. On average, sell-side analysts predict that Super Group will post 0.8 EPS for the current year.

Insider Activity at Super Group (SGHC)

In other Super Group (SGHC) news, CFO Wyk Alinda Van sold 78,837 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $13.70, for a total value of $1,080,066.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kirsty Farrah Ross sold 25,356 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $13.00, for a total value of $329,628.00. Following the sale, the chief operating officer owned 27,000 shares in the company, valued at $351,000. The trade was a 48.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,201 shares of company stock worth $1,409,805 in the last 90 days. 10.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGHC. Baron Wealth Management LLC bought a new position in shares of Super Group (SGHC) during the second quarter worth about $158,000. Prospect Capital Advisors LLC raised its stake 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 valued at $11,255,000 after acquiring an additional 313,100 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Super Group (SGHC) during the first quarter valued at $2,662,000. Bank of America Corp DE increased its holdings in shares of Super Group (SGHC) by 172.5% during the first quarter. Bank of America Corp DE now owns 1,158,102 shares of the company's stock valued at $12,508,000 after purchasing an additional 733,073 shares during the period. Finally, Anson Funds Management LP raised its stake in shares of Super Group (SGHC) by 108.3% during the first 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 in the last quarter. 5.09% of the stock is currently owned by 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.

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