BTIG Research Reaffirms Buy Rating for Super Group (SGHC) (NYSE:SGHC)

Key Points

• BTIG Research reiterated a Buy rating on Super Group (SGHC) with a $16 price target, implying roughly a 42.7% upside, and MarketBeat’s consensus rating is also Buy with a $16.75 consensus target (2 Strong Buy, 7 Buy, 1 Hold).
• Insiders sold 181,786 shares worth about $1.95M in the last 90 days (notable sales by Kirsty Farrah Ross and CFO Wyk Alinda Van to cover tax withholding), while SGHC trades at $11.22 with a $5.65B market cap, 52‑week range of $7.15–$14.38, and a PE of 26.08.

Super Group (SGHC) (NYSE:SGHC - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at BTIG Research in a research note issued on Thursday,Benzinga reports. They presently have a $16.00 target price on the stock. BTIG Research's price target indicates a potential upside of 42.67% from the stock's previous close.

A number of other equities research analysts have also issued reports on SGHC. Wall Street Zen lowered Super Group (SGHC) from a "strong-buy" rating to a "buy" rating in a research note on Monday, January 12th. Zacks Research upgraded shares of Super Group (SGHC) from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 25th. Weiss Ratings restated a "hold (c)" rating on shares of Super Group (SGHC) in a research note on Tuesday, January 27th. Finally, Benchmark upped their target price on shares of Super Group (SGHC) from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $16.75.

Super Group (SGHC) Stock Performance

Shares of SGHC stock opened at $11.22 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.02. Super Group has a 52 week low of $7.15 and a 52 week high of $14.38. The company has a market cap of $5.65 billion, a PE ratio of 26.08 and a beta of 1.05. The company's fifty day simple moving average is $10.34 and its 200-day simple moving average is $11.12.

Insider Activity at Super Group (SGHC)

In related news, insider Kirsty Farrah Ross sold 47,391 shares of Super Group (SGHC) stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $10.71, for a total value of $507,557.61. Following the completion of the transaction, the insider directly owned 96,984 shares in the company, valued at approximately $1,038,698.64. This trade represents a 32.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wyk Alinda Van sold 51,104 shares of Super Group (SGHC) stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $10.71, for a total value of $547,323.84. Following the completion of the transaction, the chief financial officer owned 78,837 shares of the company's stock, valued at $844,344.27. This trade represents a 39.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 181,786 shares of company stock worth $1,946,928 in the last ninety days. 10.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Super Group (SGHC)

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Super Group (SGHC) by 235.3% during the first quarter. AQR Capital Management LLC now owns 167,969 shares of the company's stock worth $1,082,000 after purchasing an additional 117,869 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Super Group (SGHC) by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,062 shares of the company's stock worth $574,000 after purchasing an additional 3,783 shares during the last quarter. Millennium Management LLC lifted its stake in Super Group (SGHC) by 127.2% during the first quarter. Millennium Management LLC now owns 2,737,329 shares of the company's stock worth $17,628,000 after purchasing an additional 1,532,666 shares during the last quarter. Jane Street Group LLC bought a new position in Super Group (SGHC) during the first quarter worth $1,523,000. Finally, JPMorgan Chase & Co. lifted its stake in Super Group (SGHC) by 30.4% during the second quarter. JPMorgan Chase & Co. now owns 722,660 shares of the company's stock worth $7,928,000 after purchasing an additional 168,622 shares during the last quarter. 5.09% of the stock is currently owned by institutional investors and hedge funds.

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.

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.