Engineers Gate Manager LP Trims Position in Super Group (SGHC) Limited $SGHC

Key Points

• Engineers Gate Manager LP cut its Super Group stake by 60.4% in the second quarter, selling 258,756 shares and retaining 169,620 shares valued at approximately $2.3 million.
• Super Group reported quarterly revenue of $684 million, ahead of estimates, but earnings per share of $0.22 narrowly missed consensus. The company also announced a $0.05 quarterly dividend, representing a 1.4% yield.
• Analyst sentiment remains favorable, with seven Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $18.71, above the reported share price of $13.85.

Engineers Gate Manager LP cut its stake in shares of Super Group (SGHC) Limited (NYSE:SGHC - Free Report) by 60.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,620 shares of the company's stock after selling 258,756 shares during the period. Engineers Gate Manager LP's holdings in Super Group (SGHC) were worth $2,298,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SGHC. Norges Bank purchased a new position in Super Group (SGHC) during the fourth quarter valued at approximately $23,791,000. Bank of America Corp DE increased its holdings in Super Group (SGHC) by 172.5% during the 1st quarter. Bank of America Corp DE now owns 1,158,102 shares of the company's stock worth $12,508,000 after acquiring an additional 733,073 shares during the period. Prospect Capital Advisors LLC lifted its stake 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 purchasing an additional 313,100 shares in the last quarter. Findell Capital Management LLC lifted its stake in Super Group (SGHC) by 40.3% in the 4th quarter. Findell Capital Management LLC now owns 940,000 shares of the company's stock worth $11,233,000 after purchasing an additional 269,901 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in Super Group (SGHC) by 1.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 650,030 shares of the company's stock valued at $7,768,000 after purchasing an additional 11,300 shares during the period. 5.09% of the stock is owned by hedge funds and other institutional investors.

Super Group (SGHC) Trading Up 0.1%

Shares of SGHC opened at $13.85 on Tuesday. Super Group has a fifty-two week low of $8.46 and a fifty-two week high of $15.86. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 19.15 and a beta of 1.06. The firm has a 50 day moving average price of $14.01 and a 200-day moving average price of $12.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.83 and a current ratio of 1.83.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $684.00 million for the quarter, compared to the consensus estimate of $659.90 million. Super Group (SGHC) had a net margin of 15.22% and a return on equity of 47.37%. As a group, equities research analysts forecast that Super Group will post 0.8 earnings per share for the current year.

Super Group (SGHC) Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a $0.05 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.20 annualized dividend and a dividend yield of 1.4%. Super Group (SGHC)'s payout ratio is currently 27.78%.

Insider Buying and Selling

In other Super Group (SGHC) news, COO Kirsty Ross sold 40,000 shares of Super Group (SGHC) stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $14.00, for a total value of $560,000.00. Following the transaction, the chief operating officer directly owned 48,261 shares of the company's stock, valued at $675,654. The trade was a 45.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alon Ben - David sold 23,300 shares of the business's stock in a transaction that occurred on 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 sale, the chief technology officer owned 7,814 shares of the company's stock, valued at $107,755.06. The trade was a 74.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 188,943 shares of company stock worth $2,636,538. Insiders own 10.41% of the company's stock.

Analysts Set New Price Targets

SGHC has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Super Group (SGHC) in a research report on Thursday, August 13th. Citigroup reiterated an "outperform" rating on shares of Super Group (SGHC) in a research report on Wednesday, July 8th. BTIG Research boosted their target price on Super Group (SGHC) from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Benchmark upped their target price on Super Group (SGHC) from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Needham & Company LLC raised their price target on Super Group (SGHC) from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Super Group (SGHC) currently has an average rating of "Moderate Buy" and a consensus price target of $18.71.

Super Group (SGHC) Profile

Super Group (SGHC) Limited is a global online sports betting and gaming company that operates primarily through the Betway and Spin brands. Its offerings include online sports wagering, casino games, live dealer products and other digital gaming services delivered through websites and mobile platforms.

Betway is the company's principal sports betting and online gaming brand, while Spin focuses on online casino and related gaming entertainment. Super Group serves customers in multiple regulated markets across Africa, Europe, the Americas and other international jurisdictions, with the availability of products varying according to local laws and licensing requirements.

The company was formed through the combination of the Betway and Spin businesses and became a publicly traded company on the New York Stock Exchange in 2022.

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