Super Group (SGHC) (NYSE:SGHC) Hits New 52-Week High After Analyst Upgrade

Key Points

• Super Group (SGHC) hit a new 52-week high after BTIG Research raised its price target from $16 to $19 and reiterated a buy rating.
• Other analysts have also turned more positive, with several raising targets to $19; the stock now carries an average Moderate Buy rating and a consensus target price of $18.43.
• The company also reported recent insider sales and solid fundamentals, including a latest quarterly EPS of $0.13, revenue of $578 million, and a quarterly dividend of $0.05 per share.

Super Group (SGHC) Limited (NYSE:SGHC - Get Free Report) shares hit a new 52-week high during trading on Monday after BTIG Research raised their price target on the stock from $16.00 to $19.00. BTIG Research currently has a buy rating on the stock. Super Group (SGHC) traded as high as $15.75 and last traded at $15.7390, with a volume of 3877765 shares traded. The stock had previously closed at $14.73.

A number of other research analysts have also commented on the stock. Benchmark upped their price objective on shares of Super Group (SGHC) from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings upgraded Super Group (SGHC) from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Citizens Jmp upped their target price on Super Group (SGHC) from $17.00 to $19.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 8th. Zacks Research cut Super Group (SGHC) from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded shares of Super Group (SGHC) from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Super Group (SGHC) has an average rating of "Moderate Buy" and an average target price of $18.43.

Insider Buying and Selling at Super Group (SGHC)

In other Super Group (SGHC) news, COO Kirsty Farrah Ross sold 25,356 shares of Super Group (SGHC) stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $13.00, for a total transaction of $329,628.00. Following the completion of the transaction, the chief operating officer directly owned 27,000 shares of the company's stock, valued at approximately $351,000. This trade represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Wyk Alinda Van sold 78,837 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $13.70, for a total transaction of $1,080,066.90. The SEC filing for this sale provides additional information. Insiders have sold 104,201 shares of company stock valued at $1,409,805 over the last quarter. Corporate insiders own 10.41% of the company's stock.

Institutional Trading of Super Group (SGHC)

Several large investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC bought a new position in shares of Super Group (SGHC) in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. grew its position in Super Group (SGHC) by 119.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,964 shares of the company's stock worth $71,000 after acquiring an additional 3,244 shares during the last quarter. Independent Financial Group LLC acquired a new stake in Super Group (SGHC) during the 1st quarter valued at $114,000. Wealthspire Advisors LLC acquired a new stake in Super Group (SGHC) during the 4th quarter valued at $120,000. Finally, Teza Capital Management LLC bought a new position in Super Group (SGHC) in the 2nd quarter valued at $121,000. 5.09% of the stock is owned by institutional investors.

Super Group (SGHC) Trading Up 7.0%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market cap of $7.97 billion, a P/E ratio of 32.59 and a beta of 1.06. The company has a 50-day simple moving average of $13.69 and a 200-day simple moving average of $11.73.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) last announced its earnings results on Saturday, April 18th. The company reported $0.13 earnings per share for the quarter. The company had revenue of $578.00 million during the quarter. Super Group (SGHC) had a return on equity of 42.85% and a net margin of 10.58%. On average, sell-side analysts forecast that Super Group will post 0.8 EPS for the current fiscal year.

Super Group (SGHC) Announces Dividend

The business also recently announced 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 of this dividend was Tuesday, June 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. Super Group (SGHC)'s payout ratio is currently 41.67%.

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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