Norges Bank Buys Shares of 1,990,838 Super Group (SGHC) Limited $SGHC

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Super Group (SGHC), buying 1,990,838 shares valued at about $23.8 million, or roughly 0.40% of the company.
• The stock was trading up 3.6% at $13.34, near its 52-week high of $14.38, with a market cap of $6.75 billion and a low debt-to-equity ratio of 0.02.
• Analysts remain bullish overall, with seven Buy ratings and a consensus price target of $17.57, while insiders have sold shares recently, including CEO Neal Menashe and General Counsel Martine Nathan.

Norges Bank bought a new stake in Super Group (SGHC) Limited (NYSE:SGHC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,990,838 shares of the company's stock, valued at approximately $23,791,000. Norges Bank owned about 0.40% of Super Group (SGHC) at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in Super Group (SGHC) by 67,900.0% in the third quarter. SBI Securities Co. Ltd. now owns 2,720 shares of the company's stock valued at $36,000 after purchasing an additional 2,716 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Super Group (SGHC) during the third quarter worth about $141,000. Teza Capital Management LLC purchased a new stake in shares of Super Group (SGHC) during the second quarter worth about $121,000. PNC Financial Services Group Inc. grew its stake in shares of Super Group (SGHC) by 7,056.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,594 shares of the company's stock worth $139,000 after acquiring an additional 11,432 shares during the last quarter. Finally, PharVision Advisers LLC purchased a new stake in shares of Super Group (SGHC) during the third quarter worth about $159,000. Hedge funds and other institutional investors own 5.09% of the company's stock.

Super Group (SGHC) Trading Up 3.6%

Super Group (SGHC) stock opened at $13.34 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.02. Super Group has a 52 week low of $8.46 and a 52 week high of $14.38. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 27.61 and a beta of 1.08. The stock has a 50-day moving average price of $12.30 and a 200 day moving average price of $11.22.

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

Insiders Place Their Bets

In other news, CEO Neal Menashe sold 78,530 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $10.71, for a total transaction of $841,056.30. Following the completion of the transaction, the chief executive officer directly owned 676,334 shares of the company's stock, valued at $7,243,537.14. This represents a 10.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Martine Nathan sold 4,761 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $10.71, for a total value of $50,990.31. Following the transaction, the general counsel directly owned 30,172 shares of the company's stock, valued at approximately $323,142.12. The trade was a 13.63% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 285,979 shares of company stock valued at $3,356,623. Corporate insiders own 10.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SGHC shares. Citizens Jmp boosted their price target on Super Group (SGHC) from $16.00 to $17.00 and gave the stock a "market outperform" rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded Super Group (SGHC) from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. BTIG Research restated a "buy" rating and set a $16.00 price target on shares of Super Group (SGHC) in a research note on Thursday, April 16th. Citigroup restated an "outperform" rating on shares of Super Group (SGHC) in a research note on Wednesday, May 20th. Finally, Benchmark boosted their price target on Super Group (SGHC) from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Super Group (SGHC) currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.57.

About Super Group (SGHC)

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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