Super Group (SGHC) (NYSE:SGHC) Given New $17.00 Price Target at Citizens Jmp

Key Points

• Citizens JMP raised its price target on Super Group (SGHC) to $17 from $16 and kept a market outperform rating, implying about 22.6% upside from the prior close.
• Analyst sentiment remains constructive overall, with seven Buy ratings and two Hold ratings on the stock. MarketBeat reports a consensus price target of $17.57.
• Super Group recently reported $0.13 EPS on $578 million in revenue for the quarter, while insiders and institutions continue to actively trade the stock. CEO Neal Menashe and CFO Wyk Alinda Van both sold shares tied to tax withholding on equity awards.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) had its price objective raised by research analysts at Citizens Jmp from $16.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. Citizens Jmp's price objective would indicate a potential upside of 22.63% from the company's previous close.

A number of other research firms have also commented on SGHC. Wall Street Zen raised Super Group (SGHC) from a "hold" rating to a "buy" rating in a research note on Saturday. BTIG Research restated a "buy" rating and set a $16.00 price target on shares of Super Group (SGHC) in a report on Thursday, April 16th. Weiss Ratings upgraded shares of Super Group (SGHC) from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Citigroup reaffirmed an "outperform" rating on shares of Super Group (SGHC) in a research note on Wednesday. Finally, Benchmark increased their price objective on shares of Super Group (SGHC) from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Super Group (SGHC) has an average rating of "Moderate Buy" and a consensus price target of $17.57.

Super Group (SGHC) Stock Performance

NYSE SGHC opened at $13.86 on Wednesday. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 28.70 and a beta of 1.11. 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 twelve month low of $8.12 and a twelve month high of $14.38. The stock has a fifty day simple moving average of $11.58 and a 200 day simple moving average of $11.09.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last announced its earnings results 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 firm had revenue of $578.00 million for the quarter. Sell-side analysts expect that Super Group will post 0.8 EPS for the current year.

Insiders Place Their Bets

In other Super Group (SGHC) news, CEO Neal Menashe sold 78,530 shares of the business'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 $841,056.30. Following the transaction, the chief executive officer directly owned 676,334 shares of the company's stock, valued at approximately $7,243,537.14. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wyk Alinda Van sold 51,104 shares of the 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 $547,323.84. Following the transaction, the chief financial officer owned 78,837 shares in the company, valued at $844,344.27. The trade was a 39.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 181,786 shares of company stock valued at $1,946,928 in the last ninety days. 10.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SGHC. American Century Companies Inc. increased its stake in Super Group (SGHC) by 3.0% in the third quarter. American Century Companies Inc. now owns 5,366,058 shares of the company's stock valued at $70,832,000 after purchasing an additional 156,351 shares in the last quarter. Invesco Ltd. boosted its position in shares of Super Group (SGHC) by 324.3% during the 4th quarter. Invesco Ltd. now owns 4,671,798 shares of the company's stock worth $55,828,000 after purchasing an additional 3,570,825 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Super Group (SGHC) by 4.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,639,678 shares of the company's stock valued at $55,444,000 after buying an additional 202,144 shares during the period. Millennium Management LLC increased its position in Super Group (SGHC) by 127.2% in the 1st quarter. Millennium Management LLC now owns 2,737,329 shares of the company's stock valued at $17,628,000 after buying an additional 1,532,666 shares in the last quarter. Finally, Norges Bank bought a new stake in Super Group (SGHC) in the 4th quarter valued at about $23,791,000. 5.09% of the stock is owned by institutional investors.

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.