Super Group (SGHC) (NYSE:SGHC) Price Target Raised to $19.00

Key Points

• Benchmark raised its price target on Super Group (SGHC) from $18 to $19 and kept a buy rating, implying about 28% upside from the prior close.
• Analyst sentiment remains mostly positive overall, with seven Buy ratings and two Hold ratings; the consensus target price across coverage is $18.
• The stock was down 4.6% on Friday, opening at $14.79, while recent insider selling and mixed analyst actions highlighted ongoing investor caution despite the upbeat target revision.

Super Group (SGHC) (NYSE:SGHC - Get Free Report) had its price objective upped by research analysts at Benchmark from $18.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price objective would indicate a potential upside of 28.42% from the company's previous close.

A number of other brokerages have also weighed in on SGHC. Citigroup reiterated an "outperform" rating on shares of Super Group (SGHC) in a research note on Wednesday. Zacks Research downgraded Super Group (SGHC) from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Citizens Jmp upped their price objective on Super Group (SGHC) from $17.00 to $19.00 and gave the company a "market outperform" rating in a report on Wednesday. Weiss Ratings upgraded Super Group (SGHC) from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Finally, BTIG Research reissued a "buy" rating and set a $16.00 target price on shares of Super Group (SGHC) in a report on Thursday, April 16th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Super Group (SGHC) Stock Down 4.6%

Shares of SGHC opened at $14.79 on Friday. Super Group has a 52 week low of $8.46 and a 52 week high of $15.73. The firm has a market cap of $7.48 billion, a P/E ratio of 30.63 and a beta of 1.06. The firm's 50-day simple moving average is $13.47 and its 200 day simple moving average is $11.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 1.61.

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

Insider Buying and Selling

In related news, CFO Wyk Alinda Van sold 78,837 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $13.70, for a total value of $1,080,066.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kirsty Farrah Ross sold 25,356 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $13.00, for a total value of $329,628.00. Following the sale, the chief operating officer directly owned 27,000 shares in the company, valued at $351,000. This represents a 48.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 104,201 shares of company stock valued at $1,409,805. 10.41% of the stock is owned by company insiders.

Institutional Trading of Super Group (SGHC)

A number of institutional investors have recently modified their holdings of SGHC. CIBC Private Wealth Group LLC bought a new position in shares of Super Group (SGHC) in the fourth quarter worth $28,000. SBI Securities Co. Ltd. lifted its position in Super Group (SGHC) by 119.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 5,964 shares of the company's stock worth $71,000 after purchasing an additional 3,244 shares during the period. Independent Financial Group LLC bought a new stake in Super Group (SGHC) during the first quarter worth about $114,000. Wealthspire Advisors LLC acquired a new stake in Super Group (SGHC) during the fourth quarter worth about $120,000. Finally, Teza Capital Management LLC acquired a new stake in Super Group (SGHC) during the second quarter worth about $121,000. 5.09% of the stock is currently 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.

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