Super Group (SGHC) (NYSE:SGHC) Lowered to Hold Rating by Wall Street Zen

Key Points

• Super Group (SGHC) has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in investor sentiment regarding the stock.
• The company's stock has seen a 2.5% decline recently, with a current share price of $12.64, after reaching a 12-month high of $13.47.
• Despite the downgrade, the consensus rating for Super Group remains a "Buy" with an average target price of $13.88, supported by several analysts' "buy" ratings.

Wall Street Zen cut shares of Super Group (SGHC) (NYSE:SGHC - Free Report) from a buy rating to a hold rating in a research note released on Saturday morning.

Several other research firms have also commented on SGHC. JMP Securities initiated coverage on shares of Super Group (SGHC) in a research report on Monday, July 14th. They issued a "market outperform" rating and a $15.00 price target on the stock. Citizens Jmp started coverage on shares of Super Group (SGHC) in a research note on Monday, July 14th. They set a "strong-buy" rating and a $15.00 price objective on the stock. Citigroup started coverage on shares of Super Group (SGHC) in a research note on Monday, July 14th. They set an "outperform" rating on the stock. Benchmark upped their price objective on shares of Super Group (SGHC) from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Craig Hallum set a $12.00 price objective on shares of Super Group (SGHC) in a research note on Monday, May 19th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $15.20.

Super Group (SGHC) Trading Down 8.9%

Shares of SGHC stock traded down $1.14 during trading hours on Friday, hitting $11.73. The company's stock had a trading volume of 8,566,192 shares, compared to its average volume of 3,445,954. The business has a fifty day moving average of $11.63 and a 200-day moving average of $9.47. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 45.12 and a beta of 1.09. Super Group has a twelve month low of $3.44 and a twelve month high of $13.71.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The business had revenue of $579.00 million during the quarter, compared to analyst estimates of $503.00 million. Super Group (SGHC) had a net margin of 6.42% and a return on equity of 36.68%. On average, equities analysts expect that Super Group will post 0.29 EPS for the current fiscal year.

Super Group (SGHC) Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.16 dividend on an annualized basis and a yield of 1.4%. Super Group (SGHC)'s dividend payout ratio (DPR) is currently 61.54%.

Hedge Funds Weigh In On Super Group (SGHC)

A number of large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC raised its stake in Super Group (SGHC) by 321.6% during the second quarter. Squarepoint Ops LLC now owns 625,421 shares of the company's stock worth $6,861,000 after purchasing an additional 477,084 shares during the period. Tower Research Capital LLC TRC raised its stake in Super Group (SGHC) by 19.5% during the second quarter. Tower Research Capital LLC TRC now owns 14,928 shares of the company's stock worth $164,000 after purchasing an additional 2,432 shares during the period. Teza Capital Management LLC purchased a new position in Super Group (SGHC) during the second quarter worth approximately $121,000. Lazard Asset Management LLC raised its stake in Super Group (SGHC) by 8.3% during the second quarter. Lazard Asset Management LLC now owns 294,410 shares of the company's stock worth $3,229,000 after purchasing an additional 22,646 shares during the period. Finally, Engineers Gate Manager LP raised its stake in Super Group (SGHC) by 106.5% during the second quarter. Engineers Gate Manager LP now owns 146,679 shares of the company's stock worth $1,609,000 after purchasing an additional 75,648 shares during the period. Hedge funds and other institutional investors own 5.09% of the company's stock.

About Super Group (SGHC)

Super Group (SGHC) Limited operates as an online sports betting and gaming operator. It offers Betway, an online sports betting brand; and Spin, a multi-brand online casino offering. Super Group (SGHC) Limited is based in Saint Peter Port, Guernsey.