Super Group (SGHC) (NYSE:SGHC) CEO Sells $676,706.80 in Stock

Key Points

• CEO Neal Menashe sold 48,440 Super Group shares for approximately $676,707, reducing his direct stake by 6.22% to 730,733 shares. The sale was made to cover tax withholding tied to vested equity awards.
• Super Group reported quarterly revenue of $612 million and adjusted earnings per share of $0.17, matching analyst expectations for EPS while exceeding revenue estimates.
• Analysts remain generally positive, with seven Buy ratings and two Holds, a “Moderate Buy” consensus, and an average price target of $18.43 versus the reported share price of $13.74.

Super Group (SGHC) Limited (NYSE:SGHC - Get Free Report) CEO Neal Menashe sold 48,440 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was 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 in the company, valued at approximately $10,208,340.01. The trade was a 6.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Super Group (SGHC) Stock Performance

Shares of SGHC traded down $0.26 during midday trading on Monday, reaching $13.74. 2,844,807 shares of the stock were exchanged, compared to its average volume of 2,500,574. Super Group has a twelve month low of $8.46 and a twelve month high of $15.86. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 28.46 and a beta of 1.06. The business's 50-day moving average price is $13.96 and its 200 day moving average price is $12.00.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.17. The firm had revenue of $612.00 million during the quarter, compared to analysts' expectations of $584.75 million. Super Group (SGHC) had a return on equity of 42.85% and a net margin of 10.58%. On average, sell-side analysts expect that Super Group will post 0.8 EPS for the current fiscal year.

Super Group (SGHC) Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.05 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. Super Group (SGHC)'s payout ratio is currently 41.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SGHC. CIBC Private Wealth Group LLC purchased a new stake in shares of Super Group (SGHC) during the fourth quarter worth approximately $28,000. SBI Securities Co. Ltd. increased its stake in Super Group (SGHC) by 119.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 5,964 shares of the company's stock valued at $71,000 after buying an additional 3,244 shares during the period. Independent Financial Group LLC acquired a new position in Super Group (SGHC) in the 1st quarter valued at $114,000. Wealthspire Advisors LLC purchased a new position in Super Group (SGHC) during the 4th quarter worth $120,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Super Group (SGHC) in the 2nd quarter worth $121,000. Institutional investors and hedge funds own 5.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SGHC shares. BTIG Research raised their target price on shares of Super Group (SGHC) from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Zacks Research cut shares of Super Group (SGHC) from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Benchmark increased their price target on shares of Super Group (SGHC) from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Weiss Ratings raised shares of Super Group (SGHC) from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Finally, Citigroup restated an "outperform" rating on shares of Super Group (SGHC) in a research note on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Super Group (SGHC) currently has a consensus rating of "Moderate Buy" and an average price target of $18.43.

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.

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.