Super Group (SGHC) Limited $SGHC Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Super Group stake by 24.7% in the second quarter, selling 126,610 shares and retaining 385,570 shares valued at approximately $5.2 million. Hedge funds and other institutions collectively own 5.09% of SGHC.
• Analysts remain broadly positive, with seven Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $18.71. BTIG, Needham and JMP recently raised or reaffirmed targets between $18 and $19.
• Super Group reported quarterly revenue of $684 million, ahead of estimates, though adjusted earnings of $0.22 per share narrowly missed forecasts. The company also declared a quarterly dividend of $0.05 per share, implying a 1.4% annualized yield.

Squarepoint Ops LLC decreased its stake in Super Group (SGHC) Limited (NYSE:SGHC - Free Report) by 24.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,570 shares of the company's stock after selling 126,610 shares during the period. Squarepoint Ops LLC owned 0.08% of Super Group (SGHC) worth $5,224,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SGHC. CIBC Private Wealth Group LLC purchased a new stake in Super Group (SGHC) in the fourth quarter valued at $28,000. Independent Financial Group LLC purchased a new position in shares of Super Group (SGHC) during the first quarter worth about $114,000. Wealthspire Advisors LLC acquired a new stake in shares of Super Group (SGHC) during the fourth quarter worth about $120,000. Teza Capital Management LLC purchased a new stake in shares of Super Group (SGHC) in the 2nd quarter valued at about $121,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Super Group (SGHC) in the 4th quarter valued at about $126,000. 5.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Super Group (SGHC)

In other Super Group (SGHC) news, CEO Neal Menashe sold 48,440 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $13.97, for a total value of $676,706.80. Following the transaction, the chief executive officer directly owned 730,733 shares of the company's stock, valued at approximately $10,208,340.01. The trade was a 6.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wyk Van sold 22,644 shares of the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $13.97, for a total transaction of $316,336.68. Following the transaction, the chief financial officer owned 27,566 shares of the company's stock, valued at approximately $385,097.02. The trade was a 45.10% decrease in their position. 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 three months, insiders have sold 165,643 shares of company stock valued at $2,315,231. 10.41% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on SGHC. BTIG Research raised their price target on Super Group (SGHC) from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Needham & Company LLC increased their price objective on Super Group (SGHC) from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Citizens Jmp reissued a "market outperform" rating and issued a $19.00 price objective on shares of Super Group (SGHC) in a report on Monday, August 31st. Citigroup restated an "outperform" rating on shares of Super Group (SGHC) in a research report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Super Group (SGHC) in a report on Thursday, August 13th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Super Group (SGHC) presently has a consensus rating of "Moderate Buy" and an average price target of $18.71.

Super Group (SGHC) Stock Up 1.4%

SGHC opened at $13.83 on Friday. Super Group has a 52 week low of $8.46 and a 52 week high of $15.86. The business has a 50 day moving average price of $14.02 and a two-hundred day moving average price of $12.80. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.02. The company has a market cap of $7.00 billion, a PE ratio of 19.13 and a beta of 1.06.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $684.00 million during the quarter, compared to analysts' expectations 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, research analysts anticipate that Super Group will post 0.8 EPS for the current year.

Super Group (SGHC) Announces Dividend

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

About Super Group (SGHC)

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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